Hang Seng - Half way through wave 5 of (III)

My wave count for Hang Seng is as shown above. Since October 2008's low, Hang Seng has completed its major wave (I) and (II). When Dow started its current run since March 2009, Hang Seng moved in tandem with Dow but in major wave (III). At this moment it is half way through wave 5. The target is 23,000, another 1,400 points if there is no extension (wave 6,7,8 &9). Time frame to reach 23,000 is about 2 weeks.

Be careful when Hang Seng goes for its major (IV) consolidation. It will have an impact on Bursa Malaysia.