Interesting wave count on HSI

My internet hanged last night when I was up-loading my Genting blog and because it was too late, I have decided to call it a night. So today I turned on to my blog immediately after coming back home to check out if the blog was up-loaded. As I expected, it was half cooked. So I opened the file which I have saved up my blog and copy over. Good thing because I don't have to write it again.

Since my notebook was opened, I took opportunity to look at the indices before taking my shower (yes, I smell now). I found some interest in HSI because the wave count of the 1st down wave was a 3 waves pattern. As I can recall on the Elliott's wave count, if the first and third down wave was a 3 wave pattern when it is in zig zag formation, chances are the next wave is X and then followed by a 5-3-5 pattern.

Fig 1 HSI Daily Chart

Base on the fig attached, the theory seems trustable (if there is such a word). The wave that followed the ABC was again a 3 wave pattern, then followed by a 5 wave. So now I guess is again the B wave after the 5-wave of A.

An interesting phenomenon of HSI is that the formation of B is creating a reverse head and shoulder. It objective is 22,025. The head and shoulder pattern is not really clear because of a penetration of on the neck line before a retreat, then a repenetration. Anyway, I think chances of HSI climbing for the short term is high.