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yorker@xxxxxxx wrote:
> To Jeff etc. Re: Elliott Wave Hang Sing
>
> What do you feel the possibility of your entire wave to the end of "4" and
> going to Wave 5 as being wave A followed by Wave B and C, completing a zig
> zag formation from which a new cycle wave can begin. This interpretation
> whould seem to have a much more dire outlook for the Asian situation.
>
> The only chart I have on the Hang Sing is the one in your GIF file which
> leaves me short of data from which to really draw valid conclustions.
>
> Are there any web sites which will show weekly and monthly charts on the
> Hang Sing.
>
> Kind regards,
>
> Yorker
Hi Yorker:
Your argument above is indeed a very insightful and valid one. In fact, this
scenario of the Hang Seng Index has been kept in the back of my mind ever
since I started to suspect the possibility of a five-wave corrective phase.
This, AT LEAST, gives out a warning to me that the current corrections may not
be the whole of the corrective phase. I had a chat with my mentor not long
ago and he, also, painted a very grim picture of the index. He was quite
specific to certain areas of levels and timeframe. He went on saying that at
around the 7,000 levels, stock investors should long the market without
hesitation and ALWAYS make use of protective trailing profit stops once in and
by the year 2003 (give or take), we'll see the Hang Seng Index at the 2,000
levels. To put it another way, we are just a few years away from the big
bear. Thankyou for your contributions in respect to wave counts. This gives
me another scenario to store in memory.
As far as I gathered, there isn't any site that provides daily or weekly Hang
Seng Index charts. Regards.
Have a good one
Jeff Harteam
Hong Kong
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