Hang Seng Index (15081)

In my October 13th Blog Comment, I said that I was looking for a bounce once the index fell to its 200-Day Moving Average. An aggressive bounce from the MA is now underway, and we could possibly retest recent highs in the area of 15500.

I had earlier expressed concern that we might put in an important intermediate term top in the 15500 area. The jury is still out on this.