Hong Konked

August tends to be negative for emerging markets. Stocks such as HSBC are right at major support. Some such at LFC have similarly large topping patterns. CHL looks primed for a breakdown with support maybe around $25. I don't think the March 19 low at $29 and change will hold if tested.

Markets On The Brink, Again

In the near-term, whether coronavirus spreads or not may determine whether a break comes now or is put off into the future. Important assets such as energy, copper, coal, Brazilian real, Mexican peso, emerging market bonds and more are at, near or broken major support/resistance. These are in alphabetical order.

Hong Kong ETF Below 2008 Trendline

iShares MSCI Hong Kong (EWH) has slipped below 2008 support again. EWH would need to rally above $23 to recover support. The pattern in $HSBC looks similar to the 2008 top, albeit weaker.

Hong Kong