Our target area for HK has been reached! Wow. Target range was attained by these reasons:
1. measured length of the uptrend and measured it to the downside after it broke down
2. historical support was in that area.
The dark blue line in the lower area is also the 2009-2014 uptrend line, so it should be a long term support even though China is just 10% away from 2009 lows.
HK market is still weak even if it's P/E is just 9.6x China market dragging HK market.
We are still monitoring closely SPX as to what SCENARIO we could be facing soon
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