Hong Kong stock market has been on a run since hitting its low on March 09. The phase chart turned “Bullish” at the end of May 09 and has been maintaining its bullish stance since then except for a dip to “Warning” phase on 13 July 09. That dip proved to be a buying opportunity.
The market has stayed in “Bullish” phase for 50 days now and it looks set to continue. However, investors who are looking to add new long positions may be better off waiting for a test of the 50 days moving average before entering. As in all market developments, this market will not move up in a straight line.
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