Follow-Up to Yesterday's China Post
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Yesterday I posted on The Next Market Close and The Global Picture. I added the notes below within the post after U.S. and Chinese markets closed. For those following this, I wanted to make sure you were aware of the comments.
U.S. Market close note: The U.S. market closed down (Tuesday) but on its way up in the last hour which is considered an ambiguous close and does not give a clear indication of likely market movement rest of week.
Hang Seng close note: Hong Kong and Taiwan closed solidly higher (Wednesday) which means our preliminary models would have them higher for Thursday. There appears to be a positive shift so far regarding the protests and Covid protocols. The noted "potentially serious event" aspect of this pattern with the accompanying somber tone can be seen in the death of former Chinese President Jiang Zemin. When these serious or tragic events accompany this pattern, they most often involve a number of people, but at times have been associated with the passing of a specific well-known person.
