Key points of this article:

𝒪 U.S. stocks show signs of reversal, wait for return to bullish trend before buying.

𝒪 Hang Seng Index performance disappointing, few opportunities to go long.

𝒪 Cryptocurrencies regain strength this week.

◉ Hong Kong & Japan markets - Facing resistance again and starting to pull back

Hang Seng Index futures touched 18000 before falling, barely holding the key support level of 17400. The trend has shifted from bullish to a consolidating trend with expanding volatility, at a very critical support level.

However, the bearish candles in this downward wave are large and consecutive, with no immediate signs of bullish entry.

As for the Nikkei, the decline is more severe, showing no signs of stabilization yet, having lost more than half of the previous upward wave. Since it broke through the key support level of 40740, I currently won't consider going long.

◉ U.S. market - Entering bearish trend

U.S. stocks clearly entered a bearish trend this week.

On Tuesday, we clearly informed our members about the weakening trend of the Nasdaq and advised caution.

Subsequently, a large bearish candle broke through the support level.

Compared to retail investors who only chase shorts after seeing the breakdown, our members clearly have better returns.

Currently, the Nasdaq trend is bearish, positioned at support level. We expect a small rebound, so we won't bet on further breakdown unless there's clear evidence of weak rebound. The S&P 500 has only fallen to previous resistance level, slightly stronger than the Nasdaq but not by much, with the same approach.

The Russell 2000 index is different, currently in a pullback within a very strong upward trend. I'm preparing to go long at better positions and will update promptly.

U.S. bonds have returned to previous resistance level, with the trend still bullish, presenting an attractive long opportunity. However, we need to watch whether it will directly break through resistance and hold support on Monday.

◉ EUR/USD - Suspected failed breakout

EUR/USD attempted to break through June's peak but saw a large bearish candle on Thursday, a common bearish signal.

Of course, since the trend remains strong, we won't immediately go short but can prepare.

◉ USD/JPY - Central bank interference but unlikely to affect major trend

USD/JPY has continued its downward trend since last week's central bank interference.

In May, when the price broke through the previous peak, I mentioned this upward wave could reach around 160, which was later validated. As a long-term bull, I now expect the price to return to around 152 for a strong rebound. If successful, USD/JPY could rise to 180.

◉ Cryptocurrencies - Strong but crisis approaching

Bitcoin and Ethereum continued last week's upward trend, breaking through again after minimal pullbacks, indicating a strong upward trend.

Characteristics of strong trends:

1. Buying at the bottom brings quick, painless profits
2. Higher prices make it harder to chase, with distant stop-loss points
3. Trend reversals may bring sharp short-term pullbacks, another reason to avoid chasing

Considering Bitcoin and Ethereum have risen to the consolidation bottoms of late May and June respectively, I won't attempt any daily long positions for short-term trades.

◉ Gold - Significant pullback

Gold started pulling back after a long upward wave, currently breaking through the nearest resistance-turned-support level. However, there are still many previous support levels below, and the trend hasn't turned bearish, so it's not time to short. I believe a rebound at 2388 is likely and will monitor closely.

◉ Crude oil - Consolidating at highs

Only by this Monday did we confirm crude oil's daily trend turning bearish, with no entry opportunities since.

Currently at the high of the monthly consolidation range, going long is slightly difficult. However, the daily major bottom at $77 is near, expecting some bullish support short-term. We'll wait for daily stabilization near $77 and trend turning bullish before considering long opportunities.