Wednesday, September 21, 2011

Hang Seng - What's Going Down?

The Hang Seng index has a tendency of being a leading indicator for the rest of the global markets - both on the downside and the upside. Often it gives us an early look at the global risk appetite. So what has the Hang Seng been doing lately?

Global Macro Monitor: While all eyes are focused on Europe the Hang Seng has been in a death spiral.  It is down 25 percent from its November peak and off 17.5  percent since its intraday high on August 1st, while the S&P500 is down around 9 percent.  It’s signaling something ain’t right and may — and we stress may — be a precursor to a big break in the markets.
       Keep it on your radar.

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