DBD Strategy Daily - CHINESE INDICES AT MAJOR SUPPORTS
Asian indices are bouncing from medium-term supports for the second time. Yesterday's fall has been short-lived, in spite of the negative news flow. Bad news followed by bounces are usually very positive opportunities. Chinese indices have been very weak while US indices were rising. They are therefore oversold and they could amplify an American bounce. The only problem with that scenario -which is possible for a couple of days- is that small and medium-cap indices which have led the US on the way up are not looking like they will do the same job in the coming weeks. They are very fragile. We had rather wait for those indices confirm that they are strengthening before hoping for the end of the medium-term drop of weak indices.
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