Hang Seng Index - Elliot Wave and Fibonacci Ratio [2003-2008]

Hang Seng Index - Elliot Wave and Fibonacci Ratio

The primary wave cycle of HSI started from 2003-04-05 (8331.9) and finished on 2008-10-27(10676.3).

1. Impulse
Date: 2003-04-05(8331.9) to 2007-10-30(31958.41)

Measuring the bottom and the top of wave [1], we can approximately acknowledge the top of wave [3] by applying the Fibonacci ratio:

8331.9+ (14058.2-8331.9)*2.618 =23323.3534
On 2007-07-26, HSI had touched the trigger point 23323.3534, and retraced back to 19386.7 on 2007-08-17.


2. Correction
Date: 2007-10-30(31958.41) to 2008-10-27(10676.3)

HSI completed its zigzag form of correction during the aforementioned period.

1. 2007-10-30(31958.41) to 2008-03-18(21041.3)
Primary wave [A] with 5 intermediate wave (1) (2) (3) (4) (5)

2. 2008-03-18(21041.3) to 2008-05-05(26387.4)
Primary wave[B] with 3 intermediate wave (A) (B) (C)

2. 2008-05-05(26387.4) to 2008-10-27(10676.3)
Primary wave [C] with 5 intermediate wave (1) (2) (3) (4) (5)