The stock markets have continued to power ahead, and there are no signs of it receding. I think, the bull market will at least carry on until the end of the year. Therefore, I will have to look to long, as there are currently no signs that current bullish trends have changed.
So, what shall I long? Looking at the charts, longing the Hang Seng Index and H-shares seem the most promising especially after a correction.
Let's start with Hang Seng:
Candles: short, white candles, not particularly appetising
High is about 1000 points away, so not much room to long.
Need to wait for breakout from old high to avoid double top situation.
Beijing Land:
Candles: Bearish engulfing, signalling further price fall. Wait for completion of bear move.
Sino Ocean:
Candles: Long bearish candle signalling further price fall could be on the way. Wait.
So, the verdict is still: Be patient and wait for better trading opportunity.
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