Thursday, 30 August 2018

Hang Seng (with update)

This monthly view of the Hang Seng index HK50 indictaes that Cycle 3 has commenced with appropriate gusto and now limbers up for Primary wave P3 of Cycle wave C3 of Super-cycle SC3.


A closer look one day later agrees with the above interpretation. The minute wave ii retrace has closed the gap at the 50% position. A further small dip can occur but this pattern is good to go.


The next chart compares the ALSI (Swix) and the Hong Kong (HK50) indices. Their previous close correlation has been disturbed by the relative downward drift of the ALSI. The recent trade worries has seen the HK50 take the relative strain and some gap reduction. 
Separate analysis reveals that both are displaying bullish indicators at present.


No comments:

Post a Comment