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HSI has been labeled within a Sub-Millennium degree wave 4 (blue), which has been unfolding ever since the 2007-2008 Recession.
Structure - Expanding Flat Formation
Oct 2007 peaks and down until Oct 2008 bottoms - Grand Super-Cycle wave a (red)
Oct 2008 bottoms and up until Nov 2010 tops - Super-Cycle wave (a) (purple)
Nov 2010 tops and down until Feb 2016 lows - Super-Cycle wave (b) (purple)
Feb 2016 lows and up until present times - Super-Cycle wave (c) (black)
Super-Cycle wave (c) (black)
Pattern - Ending Diagonal
Sequence - 5-Wave Sequence, with Cycle Waves I II III IV V (black) decomposed as Primary A-B-C (blue)
Current PositionCycle Wave III (black)
Next expected swing
Bearish sequence in Primary B (blue)
Market Crash Forecast
Support granted at or around the 28000.00 mark and then a bull run towards the 33000.00 levels, where the Grand Super-Cycle Wave b (red) is expected to complete.
Grand Super-Cycle Wave c (red) would reflect the next Larger Degree Recession.
Structure change
Breach of the lower trend-line of the Ending Diagonal could reflect the fact that the Market Crash already started.