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Jeff-
Your chart appears to indicate that the downturn since August is a fourth
wave retracement of a five wave impulse movement. If true, we could expect
in the not too distant future to see the Hang Seng take off on a fifth wave
to new highs. Am I interpreting this correctly?......Thanks.....Ed Levine
At 05:52 PM 11/26/97 +0800, Jeff Harteam wrote:
>Greetings Al & Traders:
>
>Hang Seng Index
>11/26 10395.29 10619.50 10395.30 10590.10 +265
>
>Hang Seng Futures
>11/26 10320 10670 10300 10670 +420
>
>Have a good one
>Jeff Harteam
>Hong Kong
>
>Note: The current erratic rise of the Hang Seng Index & Futures have
>formed a rising wedge. Short-term indicator also shows very much over
>bought situation. As long as 10800 on the Hang Seng Index contains such
>uprise, the said bearish formation still holds. Bias is for the
>downside breakout of this pattern with risk above the 10800 level.
>Regards.
>
>Attachment Converted: "C:\EUDORA\Attach\hsi.gif"
>
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