China’s SSEC

And we thought we have a bull market!
In April of this year, with Shanghai’s SEC trading around 1300, I wrote a Special Report; "China’s new Bull Market". You can find that report, and a followup I made a few weeks later on the website: http://objectiveelliottwave.com/Chinabullmarket.aspx. While we started our bull market in Oct02, and Europe with the majority of Asia joined in Mar03, China remained in a bear market. It wasn’t until Jly05 that their bear market finally ended, and Cycle wave [2] completed at just under 1,000. Today, 18 months later, the SSEC again made all time new highs by closing at 2,675. It has doubled since the special report, and nearly tripled since the bull market began. When all is said and done in the rest of the world, China’s bull market will likely still be going strong. We will continue to track it OEW terms. It has been a quite exciting event in 2006.
 
 

About tony caldaro

Investor
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23 Responses to China’s SSEC

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  3. tony says:

    Hi Peter,
     
    You are referring to textbook EW. In OEW, the previous 4th of a lesser degree is support if certain conditions occur. Not all conditions.
    The MMI in China\’s SSEC is still rising. Which would indicate to me, that even though this wave is extremely overbought it has more to go on the upside. Currently I have support posted at 2085 (Minor wave 4), not the conventional Intermediate wave iv at 1540. Only after the completion of this uptrend, which has risen over 70% from the August low, can the likely support level be determined for the next correction. Good point!
     
    tony     
     
     

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  4. peter says:

    Re $SSEC, China market chart:…… According to this count the next correction goes to "span of previous 4th wave of one lesser degree" below 1800 from about 2600 now, a 30% correction from here?? That seems a little world shaking compared to our presumed correction possibilities in our market….presuming also some global market correlation. Maybe this China market has actually made a 1,2…i, ii, …*1,*2,*3 ..with *4 already formed or about to form to give a higher support?? Don\’t explosive 3rd waves like this usually start with more overlapping sets of  1.2\’s and end with a series of  corresponding choppy 4 and 5 waves without so much retracement of the big 3rd wave(s)  move??

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