This is a short update to HSI. I will expect that the burst up today is a corrective wave 4 and for the next 2 weeks, a correction down to 15000.
My previous analysis of the Hang Seng Index was invalidated. And now I've done a revamp of the wave counts for 2023. This is the summary: 1. Hang Seng will continue to fall either till Christmas or EOY. 2. Target support, or end of correction, will be 14980-15100. Look out for this support zone.
To summarize: 1. We are currently in the 5th wave down. The last wave. 2. Potentially a sharp drop for the last 2 weeks of Dec 2023. 3. Price might follow the same pattern as Dec 2018. 4. Target 10130-10145.
In this analysis, I talk about how I used Elliott Waves to count the moves of Hang Seng Index from Jan 2018 to 24th Nov 2023. The main points to take note are these: 1. The corrective move down in 2023 is over. 2. We are still in a minor corrective move down. 3. But a wave 3 up is round the corner and that it will be an explosive one. 4. The risk is low for this...
A quick update to the HSI Elliott Wave counts that could potentially signal the end of the entire down move.
Clearly seen on this chart is the cup and handle that lasted for 12 years and now we are going into a wave 3 of 3.
As explained in the video, I explained how I break down the TSLA stock prices into Elliott Waves and why I am bullish on this stock. I also explained why the alternate bearish counts are unlikely.