- 20
- Feb
by Jason Ng, Founder, Master ‘O’ Equity
Happy Chinese New Year To All Chinese And All Other Folks Who Celebrates Spring Festival.Unknown to most, Chinese New Year is celebrated over a 15 days period from the First dayof the Lunar calendar to the 15th day of the lunar calendar. This is unlike any other festivalsin the world.
Last week has been an extremely bullish week in the markets with the Dow and the Nasdaq Compositecoincidentally gaining 1.48% each. The bullishness was contributed largely by an overly simplisticand optimistic testimony by Fed Chairman, Uncle Ben. Investors were largely caught up with inflationworries and rate hikes more than an economy that is losing its competitiveness and slowing down. Similarly, Uncle Ben seems more concerned with inflation reports than anything else too. Is this ispaper that is attempting to cover up the fire beneath?
The number of evening stars versus morning stars today seems to indicate a market downturn… or at least a short term one.
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