Hong Kong and US Stock Market was extremely bearish last week. Luckily, US government came to rescue the fannie and freddie brothers and that gives a big boost to Hong Kong stock market and also resulted in a big rally across the regional markets.
If you look at the Hong Kong Hang Seng Index chart today, you will see a crazy formation on the chart.
What’s that?
Gap Down Gap Up on Hong Kong Hang Seng Index
Gap down one day and gap up again another day. That’s extremely crazy.
As I am typing this, US Dow Jones up by 2% and I think that will create some extra fuel for the Asian market to rocket more tomorrow and be extremely volatile in the next 2 days, I will stay out of the market now until it get stablized before making a more realistic judgment.
I still remains a bearish outlook in the market, I feel that this is just a short term rally before further diving. I will be watching closely at the resistance of 21,000 and open a short position near that region as long as the resistance is not broken.
Gap Down Gap Up on Hong Kong Hang Seng Index
DISCLAIMER: This information is used for learning purposes only. It does not constitute an offer or solicitation to buy or sell. You should do your own analysis on top of my postings.
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