Long Term Trend (36 Months): Positive
Friday’s Settlement: (ASIA): 22,937.22
UPDATE: During the past three months, a support base has been constructed, and as of the last four weeks, it appears near term price action is bullish as the Index rallied over 2,000 points higher, and broke out to the upside, above the near term congestion.
Four weeks ago we stated; If U.S. Stocks continue to rally, HS could produce an upside test of 23,000.
As of this past week, that objective was met, as the Index rallied slightly above 23,200.
Based on our objective being met, profit taking could ensue.