ON MY RADAR

Share This Post on your social

Share on facebook
Share on linkedin
Share on twitter
Share on email
Share on whatsapp
Share on pocket

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.

HANG SENG NOW 

 

 

BUY Countdown 13

 

Become a Pro Member

Click the button below and subscribe to access to a whole world of professional contents!

More To Explore

-Premium

RUNS TOWARD THE TARGET

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

Do you want to Improve Your InvestmentS?

we can do it together

Disclaimer

Nothing in this website constitutes a representation of any investment strategy and is not a recommendation, promotion or solicitation of any kind of investment products in any country of the world.

Nothing contained here is suitable or appropriate to a recipient’s individual circumstances or otherwise constitutes a personal recommendation. It is published solely for information purposes, it does not constitute an advertisement and is not to be construed as a solicitation or an offer to buy or sell any securities or related financial instruments in any jurisdiction in the world. No representation or warranty, either express or implied, is provided in relation to the accuracy, completeness or reliability of the information contained herein, nor is it intended to be a complete statement or summary of the securities, markets or developments referred to in the report. The writer does not undertake that investors will obtain profits, nor will it share with investors any investment profits nor accept any liability for any investment losses. Investments involve risks and investors should exercise prudence in making their investment decisions. The reports should not be regarded by recipients as a substitute for the exercise of their own judgment. Past performance is not necessarily a guide to future performance. The value of any investment or income may go down as well as up and you may not get back the full amount invested. Any opinions expressed in these reports are subject to change without notice.

The securities described here may not be eligible for sale in all jurisdictions or to certain categories of investors. Options, derivative products and futures are not suitable for all investors, and trading in these instruments is considered risky. Foreign currency rates of exchange may adversely affect the value, price or income of any security or related instrument mentioned in this report. For investment advice, trade execution or other enquiries, investors should contact their local sales representative. Any prices stated in this report are for information purposes only and do not represent valuations for individual securities or other instruments.