Hong Kong Hang Seng Index closed at 24258.96. An up move of 380 points.
The phase chart is showing that the index is still in "Recovery" mode. It has stayed in this mode for 12 trading days now. The index stayed in "Bear" mode from 6 Mar 08 to 1 Apr 08, a total of 18 trading days. That was relatively short compared to Singapore STI, Japan Nikkei 225, Dow etc. Hong Kong has always been tied to the China growth story which may explain why it is able to bounce up from the "Bear" phase so quickly.
For now the index is trapped between the 50 day and 200 day moving average. Should be able to start buying if it can clear the 200 day moving average.
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