H-Fin Index — Progress
ATEC is yet unsure whether the Hang Seng index has truly marked a bottom.
There are a few levels of resistance to get through, hence we will avoid making any preliminary conclusions.
However, what interests us is the recent move in the H-FIN index as shown.
The sector had started to show some performance even several days before PBOC announced their second reserve requirement cut on Monday 7th December. With the index having broken out above the triangle, ATEC thinks it is has confirmed the end of its entire corrective wave since February.
This places it in a good position to take over the leadership role in the market, in the next recovery wave. It will be worthwhile scouting for individual names here.
Good Luck Out There.