willworknow
Short

Bear-Market Rally Coming To An End

INDEX:HSI   Hang Seng Index
1628 18 13
2 years ago
Analysis of the Hang Seng to get an idea of global markets. The green arrow shows the top...the same date that the US markets started the crash.... Oct             2007. The only difference between this market and the US is, the US market is forming a Expanded Flat (huge) where the b wave rises above the top...wave 5.
The most important part to this entire chart is the red converging trendlines forming an Ending Diagonal that started at the red arrow in 2011. It appears it has a b wave and c wave for a complete ED. Just a guess...this could last until August this year. That being said, any trade above wave 3 could call this complete.
I would expect all markets to crash nearly at the same time...as they did before in 2007. This, and the Dow, show that we are currently in a bear-market rally. The bear market that started Oct             2007. This will be the second shoe to fall. This chart also bolsters the view that the Dow, is also forming and Ending Diagonal. This explains the weakness and the fact that it's hard to chart.
10 months ago
Comment: Wave (i) ended at 20362 on 9-24-15, Wave (3) MAY have started down OR Wave (A) was up from wave (i) to 23452 ending on 10-16-15, making this move down a possible wave (B) for a retracement to/past wave (A) for wave (C)...possibly reaching the underside of the Ending Diagonal.

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hussain9 PRO
2 years ago
Thanks for sharing .
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AndyAu
a year ago
you have got a sharp prediction. hope you have earn enough using this chart.
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willworknow AndyAu
a year ago
I don't fully understand what you mean? "Sharp" prediction?
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AndyAu willworknow
a year ago
it just slump sharp at the first day of july this year.
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willworknow AndyAu
a year ago
Ah...you mean my August prediction was "good" right? Good = sharp?
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AngelNoo
a year ago
I'm impressed! Wish I had come across this post earlier not to have missed today's stock crash. :(
Hang Seng index took out the top of wave 3 in April, and plunged thru' the bottom of the wedge today. Is it yet a confirmation that a stock crash is well on its way? Any update on your view please? BTW, pls excuse me for my ignorance, what does "ED" mean?
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willworknow AngelNoo
a year ago
I do believe this is confirmation of the beginning of the continuation of the crash. The beginning REALLY started where I have the green arrow to the upper left (Oct 2007). This move down should approximately follow my blue trendline down that I have labeled blue wave C at the bottom. It would be expected to be around the same length as the blue wave A to the lower left. ED means Ending Diagonal in Elliott Wave terms. It's a terminal pattern that only occurs in waves 5 and C. In this case, it was within wave C of an A-B-C that formed a larger degree wave B. The first target is typically the beginning of the Ending Diagonal...the red arrow. Sorry if I got carried away with the terms. I expect this to be a global event that will really hurt. This may take 3 years to hit the bottom....remembering that nothing goes straight up or down.
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AngelNoo willworknow
a year ago
Thank you so much for your detailed reply, 've learnt so much in just a few lines!!! :)
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AngelNoo
a year ago
HI, would you consider this a possibility, that Hang Seng index just moving along/within the channel?
https://www.dropbox.com/home?preview=HSI+9July.png
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willworknow AngelNoo
a year ago
I cannot get to this image. IF this was an Ending Diagonal to complete wave B...the move down should (and has been) swift....so far. But you know markets...there are no absolutes.
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willworknow
a year ago
UPDATE: The move down to roughly 20300 on 9-23-2015 could be seen as 5 waves down to complete a first wave. The move up to 23392 area (10-22-2015) could be an A wave with drop for a B wave up for a final C to complete wave 2. To keep this Ending Diagonal alive and well, I would not want to see trade above the lower red trendline. It's commonplace for price action to meet the lower trendline one more time for a "last kiss goodbye". Once the 2nd wave up is complete, I would expect around 13000 points to the downside (wave 3) taking MAYBE 4 months or so....but that's hard to say...the time. That is hard to believe...but you wouldn't have thought the 8300 points were possible when the Ending Diagonal completed. I wish I could make additions to Tradingview charts. The markets are dynamic.
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AngelNoo willworknow
a year ago
much appreciated your update!
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wien
10 months ago
hello, do you have any update on HSI? thanks in advance!
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willworknow wien
10 months ago
I updated the comment as best I can. To me...this looks like a "sneaky" Expanded Flat for wave (i), which I have ending at 20362.
+1 Reply
wien willworknow
10 months ago
thanks! much appreciated!
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willworknow wien
10 months ago
No worries...just an update to the update. This MAY be working on a lesser degree 1st have within a the larger degree 3rd (iii). The only reason I say this is due to the global markets.
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2ethylamid
10 months ago
you were absolutely right
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Darenth
10 months ago
Thank you for your sharing, well done! I have the same counter,HAHA.
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