All About Emerging Markets

Published: Thu, 08/02/18

2018 has all been about Emerging markets and the stories are not going away. What started as trouble from the rising dollar and rising rates was later taken over by a trade war. Now it is going to be a mix of both. The key Asian markets this morning broke down key levels into 3rd waves and there is no respite going ahead. Stay tuned to what is emerging in Asia and EM, DXY and GSec.

Hang Seng

Hong Kong is the first major casualty of the weakness this morning in EMs as it breaks the wave 1 low and enters wave 3. Wave 3=1 points to 25703. Doing so the index is now below the rising channel from the 2016 bottom, and this looks like a larger trend reversal. The 20 quarter average is at 24535

hk 020818

Shanghai Composite

China is not holding back as wave 4 completed and wave 5 down started. The 3 wave advance has broken down. Waves 3=1, means 5 can be extended but still if 5=1 we get a projection down to 2475 in this move at least. This 5 wave decline would be wave A of the next leg down in China's long term bear market.

china 020818

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Rohit Srivastava
www.indiacharts.com
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