Thursday, 16 December 2010

China (HSI) looking weak

Hang Seng (HSI) 22,668 gave a SELL signal on 12 November at 24500. Today the market is down 1.3%, after falling 2% on Wednesday 15 December. 2 day close below 23,000 implies a retest of 21,000. This will be confirmed by a close below the Weekly 20ema (22,700)

SSEC 2,898 gave a SELL signal on 12 November at 3,100 but a BUY signal on Monday 13 December at 2,850. Bears will look for a Daily close below 2,800. Bulls will want a close above 2,950

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