Tuesday, September 11, 2012

Morning Market Analysis; Asia Consolidating

With China slowing down, we see the rest of the Asian markets consolidating gains on their long-term charts.  Consider the following:

The Hong Kong market is consolidating between highs established last fall and lows established at the end of last year.  The overall pattern is one of a a symmetrical triangle.

Malaysia is forming an ascending triangle pattern.

Singapore is forming an upward sloping channel

Both Taiwan and South Korea are forming symmetrical triangles.