The Hang Seng has lost about 50% since the bear market call made in 2021. Once China took over control of Hong Kong any advantages of that capitalist system ceased to exist. The bear market should make a lower low soon with bounce to follow.
Monthly
Alibaba could be worthwhile once Hong Kong forms the low. Will look at this after the US Election. The hope may then be for a new administration more favorable towards China.
I have XBI 123 as target, seems to be consolidating sideways, a lot will be determined by cpi this week, above 94 and it will run fast, the gap at 85 will lead to support if filled, big boys might save that for later when market takes big hit
I agree XBI could goby 123 by this summer. What is your timeline? 1) XBI 123 then crash, 2) XBI 110-->mini crash in March --> XBI 123, or 3) something else?
had to wait for CPI to comment, TNX and XBI are closely tied right now. It looks like XBI is going to fill that 85 gap and then it has chance to move higher to your target Inflation eating away at risk in market, though some great unrisky buys in sector. I'm adding to CPRX on weakness, CCCC has another run to 13 but starting point, I don't know..ER in 10 days and holding well in XBI beat down
market is spinning out winners and losers, one day smash and grab might be the CPI beat down, if XBI can get over 94.50 it has a run higher left....I have noticed when tech is weak XBI moves north to almost balance QQQ's
Numbers are out this morning and they are bad. Markets will start correction next week intraweek. We've seen a few warnings already. Big down days that recover but still a clear warning.
"Retail sales tumbled 0.8% in January, much more than expected"
Some may recall my 2021 call for the proverbial dam to break in China and so it has. A 50% loss!!!
ReplyDeleteAlibaba could be worthwhile once Hong Kong forms the low. Will look at this after the US Election. The hope may then be for a new administration more favorable towards China.
ReplyDeleteFor US markets SPX what I notice that the Biotech XBI that was leading the markets up is no longer confirming higher highs.
ReplyDeleteI have XBI 123 as target, seems to be consolidating sideways, a lot will be determined by cpi this week, above 94 and it will run fast, the gap at 85 will lead to support if filled, big boys might save that for later when market takes big hit
DeleteI agree XBI could goby 123 by this summer. What is your timeline? 1) XBI 123 then crash, 2) XBI 110-->mini crash in March --> XBI 123, or 3) something else?
Deletehad to wait for CPI to comment, TNX and XBI are closely tied right now. It looks like XBI is going to fill that 85 gap and then it has chance to move higher to your target
DeleteInflation eating away at risk in market, though some great unrisky buys in sector. I'm adding to CPRX on weakness, CCCC has another run to 13 but starting point, I don't know..ER in 10 days and holding well in XBI beat down
Thank you for sharing your thoughts. The market is fluctuating.
Deletemarket is spinning out winners and losers, one day smash and grab might be the CPI beat down, if XBI can get over 94.50 it has a run higher left....I have noticed when tech is weak XBI moves north to almost balance QQQ's
DeleteXBI still looks good but going through a choppy period
Deletecccc and cprx, you have been warned, much higher they will go
DeleteSC - I truly Thank You for all of the information and insights you give.
ReplyDeleteThank you very much! Markets are getting more interesting!!
DeleteNumbers are out this morning and they are bad. Markets will start correction next week intraweek. We've seen a few warnings already. Big down days that recover but still a clear warning.
ReplyDelete"Retail sales tumbled 0.8% in January, much more than expected"
Thanks SC - VIX looks ready to launch. Any idea how high? SPX looks ready to pullback to 4600 soon.
DeleteInitially we can expect a 3 week decline. It's more of a whipsaw and it should recover afterwards.
DeleteVIX is still early so not expecting too much just yet, but it's getting warmed up for what should be quite a volatile year.
Deletewait until after ER season....ptb seems to be holding it up for the dementia patient win
DeleteSPX charts coming.
ReplyDeleteThank you SC... looking forward to it
DeleteFriday FXI China in the top 5 most active
ReplyDeleteSPX declines under 5,000!
ReplyDeleteit seems like we got more up ?
ReplyDeleteProbably get a bigger pull back at 5150 or 5250 SC?
Thanks
The market will probably close higher tomorrow, but it's very close to a reversal. A nasty down week is coming soon.
DeleteMarket is up on fake Nvidia news the hypeiest stock out there. Hope everyone is getting ready for the selloff that soon follows..
ReplyDeleteSeems like next few weeks could have a nasty correction after this SC..
DeleteThe other ticker they are touting today is MRNA. So I Iooked and see it's in a bear profile on the weekly lol
ReplyDeleteThe reversal has occurred and correction is underway. Just that fast.
ReplyDelete$natgas. Can it go any lower? Longest chart I can see is 1992 at 1.14. I'm thinking double bottom at 1.52..Anyone have thoughts?
ReplyDeleteSc
ReplyDeleteTo which level on spx are you expecting a correction to ?
Thanks
XBI has broken out right before the next inflation reading....
ReplyDeletetriple top breakut target of 124
Deletethe biotech chart guru strikes again
DeleteNew chart posted!
ReplyDelete