Hang Seng Index has recovered from its low of 20,572 and is now at 24,311. About 4000 points move in 3 weeks.
It is now above its 50 day moving average and is in "Recovery" phase since 2 Apr 08. It stayed in "Bearish" phase for about 1 month and if it can take out the 200 day moving average then we will be in "Accumulation" phase.
US is showing some strength recently even with bad news being announced. Hope this show of strength will spread to Hong Kong and the rest of Asia.
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