THE market is trading on very uncertain ground this week and, with a host of negative factors affecting sentiment, there may be further to fall.
On a technical basis, the Hang Seng Index does not look well. Last week, it broke below the 9,600 mark to close the week at 9,521.24.
Admittedly much of the week's fall was on Friday, following some interesting trading on Thursday when September futures contracts expired.
But looking over the proverbial cliff, there is little support between here and the 9,200 level.
Bad news from the United States over the week could see the index fall to that level, although most brokers are betting on a trading range between 9,400 and 9,600.
The long-bond yield is now at 7.82 per cent and by the end of last week was showing signs of settling down.