Expecting at least a one day bounce off this minor support ADR traders must be looking at the same thing because PDD went green despite HSI going down last night.
MFI hit overbought last night and several companies announced they are going to delist from the US after their market closed. There is a gap in futures, but China doesn't always fill those. Snagged some PDD puts on the gap fill, and added a few on this pump. Will wait until EOD to decide if to bail or add. Despite the delisting news, Chinese ADRs are melting...
Overall, $HSI remains cautious until heavy-weighted names earnings release. Therefore, I expect $HSI will continue tight range bound between Monday and Wednesday. Of note, I want to see how the price reacts around the 2H belt as it entered the belt. Price scenario: Open/bid above 20078-096, build up time/volume, would test these 20230s area and see if the...
China's tanking again, lol. I guess I should have paid attention to the easy play. Was so hung up on CPI that I forgot all about China even though PDD is near the top of my watch list. Oh well. Can't chase it now. I know there's a lot of bears following me, a lot of time if I feel bearish and the US market is melting up I short a foreign ETF or in this case...
Last week HKEX:HSI1! rallied to 20300 previous week low volume area then got sold off towards 19450-ish, previous daily excess, where seller couldn't find traction. Buyers stepped in and ended OTFD and created three sessions of OTFU into 20300-ish and again got rejected, which left weekly OTFD continued. Looking ahead, with the Belt, aka @spacemanbtc creation,...
The belt created by @spacemanbtc rejected $HSI breakout and created weekly OTFD. From the perspective of market profiles, weekly imbalance indicates bearish sentiments among traders and further downtrend expected. Theme: STFR Bulls target: reclaim 20633 and tackles above 20985, but note that top belt is leaning lower Bears target: stay below the single prints...
China is probably the hardest market to predict because their govt exerts their will on the market, whether it be up or down. I shorted PDD again today because I think it goes down and retests the bottom next week. We'll see.
HKEX:HSI1! Failure to take out previous VAH led to sell-off down to level near the single prints created on Monday. Week ahead, pivot would be 20868 Since the huge excess 21192-21600 has not been untested, the sentiment for upcoming week favours bears and remains sell-the-rally mode until aggressive buyers take out that excess, which I doubt. FOMC may be the...
2 weeks ago we discussed why the HSI:HSI rebound rally would be slowed by profit takers (). The choppiness in the index we saw for the past 2 weeks was also due to the discrepancy between the China and US equity market. While the SSE Composite SSE:000001 still held above 3300 level, the US equity indexes all broke through the 2022-May low due to the increasing...
Hang Seng (HSI) broke and closed today above the 1D MA50 (blue trend-line) for the first time since February 2021. Despite the weakness since early April, the index hasn't yet broken or even come close to the March 16 low, indicating that we have a long-term Support. That is reasonable technically as that level (18250) is a 6 year Support formed by the February 12...
Looks like MFI went oversold, time for the next pump, conveniently on a Friday. Generally speaking if the Asians plan to pump we get an EOD rally.
HSI1! 2022 MAR 28 Week Continue to watch reaction at 22703. Weakness expected, market may test 20241. Do note that downtrend remains since trendline has yet to be broken and higher low has not yet formed. Weekly: Ultra High Volume very wide spread up bar rejecting lower prices, followed by average vol down bar closing off low, level with previous bar =...
HSI1! 2022 MAR 21 Week 18037 support returned strongly. Wait for reaction at 22703 as market returns to test previous breakdown and channel area. Weekly: Ultra High volume up bar closing on high = possible weakness Daily: Very high volume reversal followed by average volume up bar = strength H4: Market up on reducing bullish volume = weakness Entry...
Today is March 19th 2022 but HSI Future already traded March 21th 2022 wow!
Chart above is the monthly time frame of the Hang Seng. It's hard to make this type of analysis actionable, but if this trendline has any meaning, it suggests structural issues that won't end anytime soon... wild times.
HSI1! 2022 MAR 14 Week With the break of 21000, next level to test will be 18XXX region. Weekly: High volume down bar closing at low = weakness Daily: High volume down bar closing at low = weakness H4: Low vol down bar closing at low = weakness Entry will be based off the price reaction to levels Short on Test and Reject) | Long on Test and Accept Have...
HSI1! 2022 MAR 07 Week Lat week market broke 22389 support and headeed to 2000's high volume region. Should 21000 support be broken, it may see 18000 region Weekly: Ave vol down bar closing at low = weakness Daily: Ave vol down bar closing at low = weakness H4: Average vol down bar closing off low = some demand Entry will be based off the price reaction to...
HSI1! 2022 FEB 28 Week Short preference last week proved very fruitful. The spring over the last daily bar shows rejection of lower prices and demand overcoming supply (D/S). Scenarios: 1) Long on dip opportunity in the 22389-23000 region as temporary strength returns 2) Should Support 22389 fail, short opportunity on test of break down area to next...