Today's HSIF topped at 17979.
Head & shoulders' target points to 20,000+. Very optimistic, right?
To my opinion, economic condition of the next quarter has been totally reflected. Its time for investors to see whether anticipated recovery comes or not.
17979 - Could it be a top also in June & July?
My prime wave count shows that it is.
Wave 1 of the new bull market was already finished on the 11 of May at 17556 and retraced to 16202 to finish a of A on 18 May. Then it rebound to today's high 17979 to make b of A. c will bring market down to at least 16,000. The whole correction will target near 14,000. Duration 21-34 days hopefully on 23-7-09.
Well to notice is that July is the 21st
Month of Oct-07 Top. June is a month for profit taking.
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