As seen in the chart above the Hang Sang Index failed to make new highs on its recent rally attempt last week by stalling at resistance (upper red line). The index has subsequently rolled over in the last few days and is now testing its uptrend line again (green line). China led the S&P 500 lower by correcting two weeks ahead on the S&P 500 during the S&P 500’s approximate 17.00 % peak to trough May to July 2010 correction, thus the Hang Sang about to break trend needs to be monitored closely as a leading indicator to price weakness here in the states.

Category: Technical Analysis, Think Tank

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3 Responses to “FusionIQ Chart: Hang Seng Index (HSI)”

  1. alagarde says:

    Hang Seng, not Hang Sang. Seng!!


    BR: Damn spell check! I’ll fix above!

  2. dwee says:

    First off, i confess i’m a big fan. Keep up the good work!

    W.r.t. the post, i’d say it’s not just the HSI. Looking at the STI (Singapore) and SSE (Shanghai), there seems to be a downward trend coming for the more developed Asian markets, more property, services and manufacturing stocks than commodities or resources.

  3. [...] as we have noted several times (here, here and here) watch the Hang Seng index — it is the canary in the coal mine . . [...]