SSE Composite Index Correction

The SSE Composite Index, the primary index of the Shanghai Stock Exchange, reflects the performance of diverse companies across various industries and serves as a gauge of China’s economy. It is calculated based on the market value and stock prices of these companies.

According to daily Cash Data (1D), the SSE Index, after a 36% rise from September 18 to 30, 2024, entered a corrective phase that has lasted about 4 months.

Based on the time and price similarity of the waves, it appears the correction is forming a diametric pattern. Wave (e) is likely complete, and wave (f) has begun. Wave (g) may end at 3,138 or 2,945, though the completion of wave (f) will allow a more precise prediction of wave (g) endpoint.

This diametric pattern will likely take another 2 to 3 months to complete..