Resistance: 19161
Support: 17685
Comment: If it surges above 19161 - more upside (may turn out to be the next Wave 1). If it plunges below upper Red trendline - more downside.

Resistance: Upper Red trendline, Neckline
Support: Lower Red trendline, 8000
Comment: If it surges above Upper Red trendline - move up to test Neckline. If it plunges below Lower Red trendline - more down to test 8000.

Scenario
If HSI form a lower high (below 19161), and start a down wave. I will be looking at the following levels to purchase:

a. Fibonacci Retracement at 38.2% (17350)
Purchase (10% of available fund).

b. Fibonacci Retracement at 50% (16800)
Purchase (20% of available fund).

c. Fibonacci Retracement at 61.8% (16243)
Purchase (30% of available fund).

Note: The Golden Cross, when the 50-day moving average for a security crosses above the 200-day moving average, occurred to the S&P 500 on 23 Jun 2009.

HSI plunged about 1506 points (8%) during this correction, and has been volatile with low volume for the past one week.

Is HSI in Wave A?
Maybe.. so there is no purchase plan due to the risk involved. I will take profit on short term shares during the next up wave.

Note: Currently, "Better Than Expected" news is no longer good enough. Market needs good news in order to move up.