SHCOMP Shanghai Composite Great observation by @The_Unwind , he recommended taking a look at the SHCOMP and the structure in 08 is very interesting. The structure leading up to 08 sure does look like a Hyperwave except for the Phase 1 line and the acceleration of Phases 2 and 3 are stronger than usual but it does meet all the criteria except the P1. Could it be in a much larger structure as a fractal off of a Phase 2 line much like the dot com bubble and the Nasdaq today? We need to see if there is an accelerated weekly closing trend line in the future if it finds support at this possible Phase 2 here
Of Note : Please post immediate follow-up post,
if major support trend line on SHCOMP is violated on a close.
If that were to occur, and they are 12 hours ahead of US,
the implications for our market would be immediate.
THE_UNWIND
ATCTA
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@The_Unwind, it wouldn't necessarily mean anything if it breaks that phase the line, other than the idea that that particular phase line is invalid
ATCTA
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@The_Unwind, Getting back to this comment, the only predictability that can be derived from a Phase line break is during Phase 4, that's when a 5/6/7 will occur. Breaking that line will have consequences which could be massive, but it will be difficult to say and we'll have to use other technical tools to determine possible targets. Some break Phase 3 for example and immediately return to a Phase 2 then stall out, others stall almost suspended in mid air after breaking a Phase 2 or 3... either way when a weekly long term trend line like this or a Phase line breaks regardless where it may be in a HW, I sell that asset immediately, just not worth the risk.
Important Chart !~
Of Note : Please post immediate follow-up post,
if major support trend line on SHCOMP is violated on a close.
If that were to occur, and they are 12 hours ahead of US,
the implications for our market would be immediate.
THE_UNWIND