I analyze macroeconomic issues from a fundamental perspective, and I analyze market behavior from a technical perspective. Original macroeconomic analysis can be found here and both macro analysis and commentary can be found on my Caps blog. If you like or appreciate my analysis, please add yourself to my Following List

Friday, November 27, 2009

HSI...I...I...I am appalled

Like I was observing a few days ago in my last post on Asia (Another Look at a Few Asian Markets), there have been a lot of "un-bullish" developments on the charts.

I was observing that the Hong Kong Hang Seng (HSI) was in an ending diagonal. Well the last 2 days proved very un-bullish indeed. HSI is a mixture of Asia and Financials, and both are getting hit pretty hard in the crotch recently.

Looks like a diagonal breakdown to me.

Keep buying those dips!

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