We'll admit that the Hang Seng does not have the most bullish of structures among APAC indices, but it continues to defy bears with a break of key support. And if sentiment for global indices picks up as we suspect, it could pave the way for another cheeky long for Hang Seng bulls. The index has seen three failed attempts to break beneath 17500 since late June....
HSI1! HSI1! 2021 Sep 27 Week Rejection at about 24587, the 50% of the Feb 2016 - Jan 2018 uptrend provided short opportunity, besides rejection at previous H3 UHV bar high 24718. Weekly: Down bar closing off low, a little demand, but no signs of strength. Weakness expected to continue. Daily: Weakness. The last 2nd and 3rd bar appeared as bearish...
For the flows here, buyers are clearly in control and have been over multiple decades - although since 2016 we have been inside a compression range which looks set to blow later in 2022. Strong support comes into play at 23,500 which should be enough to cap the outflows before continuation in a bull market towards a measure 40,000 breakout target. ↳ To the...
HSI1! 2021 Apr 19 Week (Intraday) Noticed that price weren't able to make its way past the midpoint of the channel. Is the market weakening? The support and resistance zone remains. No change to trade levels. 1) Use the range of previous ultra high volume bar as a guide for a immediate support/resistance. Clue: Ultra high volume, wide spread down bar is a...
HS1! HSI1! 2021 Jan 11 Week Red/Green zones are preferred entry area. Intermediate 27753 resistance was broken through and has now become intermediate support. Though B sees a rejection, the volume isnt' as high as I'd like to see. The bar after it is a down bar on low volume. Notice also the price rotation zone marked out by the grey box. Let's see if...
HKEX:HSI1! HS1! 2020 Dec 14 Week Price remained in a range for the past week Not much change to S/R zones Being in the year end holiday mood, take it easy on trading or take a break Scenario - Short Short from Resistant 1 Short from Immediate Resistant Target 1 = 50% of range to Support1 Target 2 = Support1 Extended target = Support2 Support 2 = critical...
HS1! Bar 1 Price tried to break out of the resistance zone before meeting rejection to higher prices, closing in the lower region of the bar. The breakout is not convincing Bar 2 Another breakout attempt, but made a lower high than bar 1. There is some demand as price close slightly above middle of the bar. Reason for caution is that although the top of the...
Looks to me like China is gonna pump tonight or tomorrow night, MFI oversold
I kinda blew the call Friday afternoon because I wasn't paying attention to China, and they pumped the crap out of futures Sunday. Pumped ES1 so much that when the Euros sold it, MDI went oversold but the index future was still up 9 pts at open. Lesson learned. Anyways, I bought MCHI calls today, and when I noticed this was overbought, I flipped them in the...