Last Friday, the closing price of the Shanghai Composite Index was 3589 points. The index has been sideways at 3580 points for 13 trading days. On May 26, the closing price of the Shanghai Composite Index was 3591 points, which is Said that so many days the index is basically a sideways, and it is a very standard sideways.
When the market is sideways, many people will describe it as a shocking market, but this description is understandable by most people but it is not good. I tend to have only ups and downs from the perspective of trends, and there is no third, or oscillating trend. This has a philosophical view, just as things always have two attributes, yin and yang, positive and negative, right and wrong, black and white, and so on. The two attributes will be simpler. The sideways here are always above the trend, so it is an uptrend.
In the wave pattern, we used the consistent profit method to find the low point of the axis crossing, but the subsequent trend neither hit a new high of 3629 points, did it break the 4 waves? Low point, so the wave pattern tends to rise in 5 waves. It is still uncertain. Fortunately, there is still time. There are 23 60-minute rising cycles in 1 wave and 27 rising cycles in 3 waves. This is just the beginning.
It’s unrealistic to expect a surge in the market in the near future, because even if it goes up, there will be 5 waves. Wave 5 is a recession wave, and all 5 waves have gone up. Afterwards, a slightly larger adjustment will be made, and then it will be easier for the market to rise again, but it is obviously not in the near future.
[WeChat public account:sinaxxm, invest in Mingdao]