The Long Investor

HSI

Added 2024-11-14 12:39:53 +0000 UTC

Ok as mentioned in the previous HSI chart, if this pull back goes below the top of Wave 1, then it can not be Wave 4 so I have spent sometime on this chart this morning to reevaluate

Like I said before, it does not mean that the HSI is not in impulse wave, it means that it can not be Wave 4.....we have used these rules on the $HIMS chart over the last few months and the rules have guided us very well.

So since the HSI has pulled back in a very controlled 3 wave manner and looks set to test the 0.618 Fib at 19,049, this is looking like a Subwave 2....which aligns with being a Subwave 2 of Wave 3.

Points to make:

$BABA earnings tomorrow will be catalyst
3 Wave pull back against the trend, is an indication that the trend is an impulse wave
Price has only lost the 50 Day MA and still a lot higher than the 200 Day MA, which is the bearish/bullish flip MA
RSI is 38, almost at oversold territory so a bounce is due.
Higher highs and higher lows are observed
China continues to promote their economy
No announcements of potential tariffs against China yet from the US
Superinvestors continue to add Chinese positions

I see no indication to change our view on our Chinese positions, I would however like to see the HSI hold above the 0.618 Fib at 19,049