HONG KONG STOCKS JUMP 4.5% CAUSING U.S. YIELDS TO RISE PUTTING PRESSURE ON U.S. STOCKS
By Nigam Arora & Dr. Natasha Arora
To gain an edge, this is what you need to know today.
Yields Rise
Please click here for a chart of China large cap ETF (FXI).
Note the following:
- Stocks in Hong Kong jumped 4.51% as many Chinese cities loosened COVID restrictions over the weekend.
- The chart shows that the 30% rally over two weeks is now extending.
- The chart shows FXI is now at the bottom of the resistance zone. For this reason, the move up from here will be more difficult.
- The price action on the chart shows a positive pattern.
- The chart shows RSI divergence.
December 5, 2022