|
PureBytes Links
Trading Reference Links
|
This mkt. is not one I follow too closely (mostly through Jeff's
contributions) but based on the way Jeff has it labeled one would have to
logically conclude that using Elloitt rules an attempt ("attempt" because
of the failure possibility) at a new high would be in order but only after
a new low to finish off 5 of (c) which would complete all of wave 4.
As usual with Elliott, there are several other quite viable counts that
wouldn't alter Jeff's labeling in the smaller degrees much at all but would
dramatically change the prospects for the Hang Seng. For instance, the Hang
Seng could be tracing out a 1-2, 1-2, with a REALLY big 3rd to follow.
This is an interesting mkt. to follow right now because it is sub-dividing
in Elliott terms in text-book fashion. Not to mention the other
implications involving the future course of this market.
Good stuff, Jeff.
Regards,
Tom Alexander
----------
> From: edward levine <edward.renee@xxxxxxxxxxxxxxx>
> To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
> Subject: Re: MKT - Hang Seng Data
> Date: Friday, November 28, 1997 9:20 AM
>
> 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
>
>
> >
> >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.
> >
> >
>
|