HK market has run up quite strongly last few days but still needs a bit more convincing indications. Let us look at the Hang Seng Index chart:
1. It has not crossed the downtrend line yet
2. Though already above the base line, I prefer it to close above the box
3. The short term GMMA lines are still below the long term lines
4. Momentum is rising but still not strong enough to close near the zero line
5. Last Friday closed down with quite a fair bit of profit taking (but reduced volume)
If Monday rises, then the bull may be staying for quite a while. In following trend, and maybe lead by US market, I will consider long trades instead.
Stock markets are fill with sentiments. There may be plenty of bearish news from EU and the West but still Asian markets rise together with the West. Still the same - follow the trend to trade.
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