Markets Update — The Flush

Asia regional markets, like Hang Seng Index, has also broken its triangle consolidation and embarked on a new selling wave.

Source: Bloomberg

Triangles as identified by the Elliot principle tend to precede the final move, which in this case means a final sell-off to end the entire corrective structure since February.

If we use the guideline of wave equality (wave Z = wave W), this means we can potentially see the APEX50 land at around 1428ish area, meaning some 10% lower from today.

Still, it is a guideline and there is no guarantee markets will adhere to that. Hence ATEC will take it one day at a time.

Good Luck Out There.