Upside Technologies
1 min readDec 15, 2021

This is an update to our previous note dated 28th September ’21, titled Sharing a Textbook example — TPMART Index.

In our previous note, we suggested that TPMART would likely experience a large three waves correction. We also suggested that if one were not already short it then, that we should await the completion of a B wave bounce before engaging it on the short side for a final C wave down move.

Source: Bloomberg

ATEC believes, as we observe the Japanese shipping index, that it has likely completed the B wave bounce, and that we can now look for a C wave move to levels below 600 from here.

We understand the narrative around shipping backlogs. We understand that container freight rates are still at decade-highs. But we also understand that sentiment moves in ebbs and flows.

ATEC will short it with a stop at recent highs.

Good luck out there.



Upside Technologies

Investing research and thoughts from an Upside user and Portfolio Manager named ATEC, based in Singapore. learn more at