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Yesterday ..

was filled with interesting indications on various technical fronts. A strong downside reaction in yields led to a weaker USD, benefiting commodities-related sectors such as gold stocks, oil stocks, and China stocks. I will need the weekend to review all the charts in my database and extract the best or most interesting ones. In the meantime, this morning we see a strong rally in Asia, following yesterday’s trend, with the Hang Seng up by 4% and displaying an ambitious long-term pattern…. For now, I would focus on this theme because both Chinese tech stocks and indices have very positive technical patterns. Let me start by mentioning that KWEB has a series of just completed BBUY SEQUENTIAL patterns, which, according to Demark, puts us in a favorable position for an upward reversal. The patterns on the discretionary charts also suggest the possibility of a rebound, both in absolute terms and relative to US tech (as I mentioned recently). There is tremendous upside potential, and it is pointless to chase overvalued and bubble-like US tech stocks while ignoring the Asian/Chinese ones, especially considering the reversal in the Yuan/USD cross, which is strongly correlated with KWEB, for example (and this confirms the reversal – see the chart below indicating a strong correlation between this two). Keep an eye on Yields and USD as starting points, but if the NY session confirms the strong performance of the aforementioned sectors from yesterday, the reversal signal would be much more reliable. We will see in a few hours.




BUY Countdown 13


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I am referring to one of my favorite stocks namely …     PDD which after extremely positive earnings continues

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