A Sea of Red
What an unusual way to start the New Year with all indices in deep red! Is this an omen to indicated the start of a bear market in 2016?
This morning, after the announcement of the China caixin manufacturing PMI, which was below forecast at 48.2, all Asia market sold down ferociously followed by the European markets.
To me, this sell down is not warranted as China is transforming its economy from a manufacturing power house to a consumer based consumption model. Obviously, manufacturing PMI will decline and non-manufacturing PMI will increase which is currently happening for months.
This selling is a very good opportunity for me to enter the market.
Yoma may have reversed its downtrend and is the few survival of today’s selling. Its uptrend is still intact and may start to run again after resting for 2 months.
Stop buy or buy only @ 0.495
Stop loss @ 0.44