Last post on the HSI showed why we bounced up from 22,400. After a decent advance, the HSI turned down along with other emerging markets, and broke down through the uptrendline. However, as the index is reaching oversold towards the historical 22,400 support, expect a tiny bounce or back-test here. Further support is at 21,800. I will discuss other supports in the event of a further break below this level.
Meanwhile the Shanghai Composite is changing gears, and breaking out of its short-term downtrend. Update to follow shortly.
Posts
