$BABA TOP 20
Added 2024-08-04 18:24:13 +0000 UTCRelatively uneventful week for $BABA, managed to finish the week on the 50 Day MA and gave the 200 Day MA a test of support on Friday too and has so far held.
We would love to see the Chinese ADRs starting to drift away from the US tech stock movements now, consolidating sideways may be the next best option, for now the impulse wave is still valid but I think we still need to see more from policy makers, they need to lift the market, a stimulus of substantial measures is needed.
They have this capability and they have the fat in the monetary conditions because inflation is so low, there is no risk of inflation running too high, it is actually a lot lower than where the US would love to be at right now.
If this were the US, they would be rolling out the printing machine right now......not necessarily the right thing to do but they prioritise keeping the money flowing.
