$NIO TOP 20
Added 2024-09-24 11:59:08 +0000 UTCUp over +7% in the PM now and we can say that Subwave 4 is complete now and we are Subwave 5.
China released a wrath of QE measures overnight, including reducing banks reserve cash and said they would inject Billions of Yuan into the economy and market, pushing Chinese ADRs and the HSI up massively.
We have been waiting for this.
Wave 5 is at the previous high from June last year but it can move higher and reaching to the blue line at $7 would not be out of place over the next few weeks
We discussed yesterday about where the ABC pullback will come to after Subwave 5 is complete and we will add these levels when we see how Subwave 5 develops....but as a ball park, the 50 and 200 Day MA's will likely align with the pull back levels, as they normally do.
Comments
Not me, I think they (and investors) are glad a bottom came in .. if it holds. They are trying to ignite inflation, maybe.
Labo
2024-09-25 15:29:27 +0000 UTCWho thinks the Chinese leadership were waiting for the market to bottom before going long and then weeeee π
Nick E
2024-09-24 13:11:37 +0000 UTC
