SSE MT (January 31st 2021)SSE Composite Index (January 31st 2021 through June 2022)
Low: 3,174 - 3,460 points
High: 3,922 - 4,385 points
I track this metric as part of a weekly Cindicator forecast, I've come up with these projections solely using what I can so far understand of technical analytic methodology applied to the present data.
My current belief is that the SSE index is in one large triangle that could result in a massive breakout anytime between 2024 up to 2028. The resulting direction is still uncertain to me but I have a suspicion it could result in some very bullish market price action.
I believe the SSE related markets may have a bit of a sell-off this week, could correlate with some of the crowd psychology in American stocks with similar sell-offs in S&P and Dow indices.
If the sell-off continues, it could still be a bullish major trend but retrace as low as 3,283 to 3,405 points for 2 to 6 weeks or so at most.
There's also a chance this move doesn't immediately recover and paints a head and shoulders over the next 2 or 3 months. If this happens, I believe it could test a final support near 3,174 points before making new moves again. But if this scenario happens, price action may just get stuck in the range of the red box on the chart for a couple more months before making new breakouts. However, this doesn't seem too likely to me.
Once price action can pull out of this most recent week's bearish zone, the next bullish target I will be looking for a major sell reaction is around 3,922 points, with a potential quick stop near 3,761 points before completing that move. If that happens as expected, I would expect price action to retrace to as low as 3,460 to 3,637 points before making new bullish moves higher again. My estimated timeframe for this move is within February/March to July/August 2021.
If all is well by this point, the last major price action target sits around 4,385 points before another major sell-off could occur, this overall move could take from late 2021 to early 2022 by my estimates.
After that, most markets could end up very bearish for a couple years, sometime between 2022 to 2025 seems reasonable.
During this time, the SSE could potentially crash low enough to touch the triangle's lower border trend, anywhere from 2,904 to 3,174 points before making a struggle for higher highs, a potential second trend touch and then from there we can consider new variables to attempt to gauge if the expected breakout is bullish or bearish.
Longer term and previous related ideas attached below:
Thanks for tuning in :) Disclaimer, anyone in the trade needs to do their own due diligence and decide what is right for YOU. My charts can be wrong at any time and it's very important that you have your own strategies and plans in place. I run this channel for my own educational purposes of learning to trade, and I will never be 100% right, so please do not let me confirm any bias for you! (Dangerous to do so, stay safe and remember the basics & rules of risk assessment.) Expect the unexpected and happy trading!
