Date 10 Oct 24 (Thu) : Is HK Market done with its correction? USD gain back in strength.

After the first rate cut by FOMC in mid September, Q4 had kicked off with a big surprise surge in HK market, and swayed the rest of the Asia markets to follow suit. But Monday, HK market tumbled 2200 points within a day after gain almost 6000 points of 6 days of bull run. This kind of volatilities is hard to come by. And base on that HSI chart, it can correct as much as 20,200 point before complete the correction, and HK market may extend its bull run into year 2025. For STI, I remained confident that it will not have too steep in correction if it can after Oct. Under such extreme volatile market situation, the fundamental values of company may not be as critical as the technical analysis on the price movement now. Hence, I decided to let U grab hold of some timeline and facts which are likely important that which counters to buy or sell now...

For U.S. market, US dollars recently gain strength against other currencies as U.S. Treasury yield rises, and this will give support to the 3 main U.S. indexes. And therefore, U.S. may continue to break up. In addition, FOMC cut rate to boost the employment rate, and therefore the U.S. CPI tonight should be within market estimates.

Another thing for investors to note is the date of the U.S. Presidential Election falls one day before FOMC meeting start in Nov. This will make the markets become much more volatile than before. Investors must take note.