Super-Rare Signal Suggests Hong Kong Stock Market Has Hit Rock Bottom
- RSI crossover is a sign that bullish momentum is building up
- S&P 500 crossover in 2009 marked start of multiyear rally
This article is for subscribers only.
A stock-market indicator is flashing an extremely rare signal that suggests Hong Kong has hit the bottom after years of Covid restrictions, a tech industry crackdown and a property-market implosion in China.
Strategists who study charts this week spotted an event that last happened 55 years ago: a so-called crossover on a graph that combines the speed and magnitude of price changes to assess whether a security is about to make a big turn. A very similar shift in 2009 marked the start of a multiyear bull-run in the U.S.