It is very possible for the Dow to test the lower boundary of the sensitive triangle. And if it goes as predicted in a head and shoulders pattern, a huge correction is for sure.
Shorting DJA in hope pf getting a reward ratio of 5.
Just want to share my view on HKEX:700 . I am expecting an upcoming long term bear of of Hong Kong stock market. 700 as an important constitute of the HSI is highly correlated to it. Investors are getting more aware of its overvaluation. I have put bets onto the bear. It is possible for the stock to form a head and shoulders pattern before it further drops...
Another 2000 more point drop will confirm a strong bear. Within a short span of time it is called a crash.Within a longer span of time, it is called a bear.
Bear is here. HSI Suppose it goes according to the proposed head and shoulders pattern, the next target would be over 5000 points downwards. I will update once per week.
If it was true that 2018 is a bearish year for emerging markets, then I predict the HSI will go as the figure indicates.
I have just analyzed the HSI using trendlines, SMA crossing and Fibonacci. I started a shorting order at 29104 and looks for a 500-pit profits.