The Week Ahead: 2022-03-06

The usual suspects plus a few international indices

Hang Seng Index

I’ve been asked to look at the Hang Seng Tech Index but I don’t have data for that and the ETFs for it are relatively new so don’t have much data. I’m substituting the Hang Seng as it looks to have pretty much the same swings on lower time frame chart as HSI Tech. We can see that HSI has been moving lower from a lower high set early in 2021. I’m penciling in this drop as part of a larger (c) wave in progress. Where are we in that drop currently? Either working on iii or v depending on how aggressive one is with the internal structure over the past year. I’ve added a Schiff Channel to the following weekly chart which should help locate a low or series of lows later in the year. Short term a retest of the general area of the early 2000 low looks attractive though I assume it will drop under that to say 19690.

Looks lower to at least 21140, likely a bit lower, before much of a bounce

DAX

Also have had a request to look at DAX. Looks like an extended third in development as it has been falling like a rock since February 16th. There are some possible extension and other Fibonacci related supports at 12580 and 12260 but could easily push for 11570 as it is in falling knife mode at the moment.

Acting like an extended third