Elliott Wave 5.0 "Reboot"

Thursday, January 14, 2016

Shanghai Index Review: Just Another Short Term Bottom?

Any potential rally I did have evaporated rather quickly as the SHCOMP is hell bent to head south.
My "A" Wave decline I'am counting as a leading diagonal and then the potential "B" rally.  This looks great but we should have had clear wave 1-2 already behind us as otherwise this index is going far below the 2000 price level.  

Right now the Shanghai is in limbo, stuck between two extreme lines. Eventually, if the "ABC" decline is real, then we should still see the Shanghai go to 2000 or a bit lower.