HSTECH Update

Since registering a spike high on 25th October, ATEC is able to spot five sub-waves down into the lows on 20th October ‘21. According to our framework, we could very well have already seen the lows of the entire multi-month corrective structure.

Source: Bloomberg

ATEC notes two points from this:

1. That although we have yet to see a confirmation of a turn (up), we should not be holding on to any shorts here.
2. That our previous scenario for APEX50 dropping to 1428 area might not be achievable.

Should a bounce manifest, ATEC believes the magnitude could prove much bigger and perhaps more tradable than previous episodes, just because of the sheer distrust and disillusionment surrounding the titans.

Having said that, there are selected titans which we do prefer from a fundamental and technical perspective, which based on our framework, have yet to truly register a peak.

Time for a mindset change perhaps.

Happy Christmas and merry new year.