Index is always an illusion

19000 LC should be closed today.
19200 SC and 19400 SC are optional.

True volume got a bit more than last two days.
Short selling position of stocks other than constituents is a valuable signal showing volume hasn't been a bullish signal on HSI
Stock trading volume had increased 1.5B, 1B had embraced short selling

Stock market is not consistent with futures market, stock market is not healthy enough to support HSI index.
It seems a conventional way to build their position that constituents covered other stocks and tried to be illusory misleading general investors.

CBBC should be taken in account on its expiry position. 5 CBBC will reached the maturity tomorrow on 28/6/2012, so 716 futures contracts hedging for these 5 CBBC will be released tomorrow, the clearing day.

Bear/ bull futures hedging position ratio (bear/ bull ratio) will go down to nearly 1 while general investors are tending to build bullish position and there is a reduction on the matured hedging position. 


The bait seems hooking on awaiting sufficient participants. Paying attention on HSIN2 rotation is the mission for confirming the story board.

Also, DAX, FTSE, INDU, SPX, COMPQ, SHANGHAI are experience a very weak tendency, rebounding without support.

It should be appropriated to keep a bearish view in July


SC 20400 can be considered