Sunday, August 13, 2017

Weekly Update

Dow (21,858)

My guess is Dow has completed its major wave 7 and has started its major wave 8 pullback. The magnitude of the drop is estimated to be 15%.


Under this scenario, Dow is expected to move all the way to below 20,000.


However if Dow can move higher next week and can continue to move higher and set more new record highs,sub-wave v will be extended as shown below. But all we need to rule out this option is to have another 200 points drop to below last Thursday's closing level.


Another possibility that can prolong the current up-trend is for wave (v) to have 9 sub-waves as shown below. That means the current correction is the sub-wave vi. But the moment Dow dropped below 21,200 level, this option can be ruled out and Dow will be moving to below 20,000.


FBMKLCI (1,766)

KLCI drop another 10 points last Friday. Unless it can have a strong rebound next week and can move above its previous high, KLCI will continue to form its sub-wave iii and heading for 15% pullback to complete the wave C of (6).

 

ATTA Global Group Bhd (Rm 1.02)

At best ATTA can have a wave B rebound to form a 'head and shoulder' pattern.


EG Industries Bhd (Rm 0.78)

EG's wave C of 4 has formed 7 waves. It may proceed to form 9 waves to complete the wave 4.


Gadang Holdings Bhd (Rm 1.23)

Gadang is forming its major wave 4.


Inari Amertron Bhd (Rm 2.35)

Inari has completed its major wave 7 and is currently forming its major wave 8.




Insas Bhd (Rm 0.955)

Insas is about to complete its wave c of (iv).







Priceworth International Bhd (Rm 0.20)

PWorth is about to complete its major wave 4 unless the 2016 October's low is not the bottom then PWorth may drop all the way to the bottom to set a lower low.


RCE Capital Bhd (Rm 1.64)

RCECap is forming its major wave 8.



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Wednesday, August 9, 2017

FBMKLCI - Very likely sub-wave ii has ended

FBMKLCI (1,777)

If KLCI continues to move lower in the next few days, it is possible that sub-wave ii of C has ended and sub-wave iii has started with its first candlestick today.



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Sunday, August 6, 2017

Weekly Update

Dow (22,092)

At this moment, as long as Dow can stay above the upper trend-line, Dow appeared to follow the scenario 2's wave form.


FBMKLCI (1,774)

KLCI continued with its sub-wave ii rebound.



ATTA Global Group Bhd (Rm 1.04)

ATTA is about to start its wave B rebound.


EG Industries Bhd (Rm 0.80)

If the current pullback is not the sub-wave ii with a 100% retracement, I will need to recount the waves for EG.


Insas Bhd (Rm 1.05)

Insas is more likely to continue with its wave c of (iv) formation.


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Wednesday, August 2, 2017

Dow Closed Above 22,000

Dow (22,016)

Dow closed above 22,000 with a new record high of 22,016 on Wednesday. Is this the second scenario that I have mentioned before, it broke out of the wedge and is forming the small wave iii of the minor wave (iii) of mini wave 3.



But the lack of volume and the lack of an euphoric sentiment in breaking the upper trend-line as well as the 22,000 level  give me the excuse to come out with another possible scenario as shown below.


If Dow cannot pull away from the 22,000 level with more enthusiasm and with much higher volume, it is possible that the breaking of upper trend-line is an overthrow and the run may just end here.

For the Malaysian market click 'Sovereign default' to judge for yourself its impact.

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Monday, July 31, 2017

FBMKLCI - Wave ii rebound has ended

FBMKLCI (1,760)

KLCI didn't move as I have projected over the weekend. The twelve numbers of 30-minute interval candlesticks has cut short the wave ii rebound.



Wave ii has ended at 1772 level on last Thursday, 8 points short of my projected 1780 level. Wave iii of C has already started on last Thursday afternoon.



Wave C is expected to end around 1,520 level, another 240 points to go.



From the 20-year chart, one can see that I am assuming that KLCI has been forming its mega wave (6) in the last 3 years.



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Sunday, July 30, 2017

Weekly Update

Dow (21,830)

Dow closed with another new record high on Friday. My reading for Dow remained the same as last week. Dow is either on its way to complete its mini wave 5 to complete the major wave (7)



Or it is forming its mini wave 3, still a long way to go to complete its major wave (7).


FBMKLCI (1,767)

With respect to the two possibilities of Dow, KLCI is either has completed its wave B and is forming its wave C,



Or it is forming the wave (iii) of its wave B.




EG Industries Bhd (Rm 0.83)

If EG is forming its major wave 5, it should start to move higher again next week.


Inari Amertron Bhd (Rm 2.55)

Inari is about to complete its major wave 7 if its wave (v) has only 9 waves.


Insas Bhd (Rm 1.07)

Insas is either forming its wave (iv)


Or it is forming the sub-wave vii of its wave (iii).


Priceworth International Bhd (Rm 0.245)

My reading for PWorth is as shown. If it can move up from its current level, very likely it is forming the sub-wave iii of its wave (iii).



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Monday, July 24, 2017

EG Industries Bhd (Rm0.86)

EG opened with a gap and moved up strongly today gaining 3.5 sens (+4.2%). Is this the starting of its major wave 5?


EG took about 18 months to complete its major wave 4 correction with a rare ABCDE-X-ABCDE-X-ABCDE wave form.


How high can this major wave 5 go?

If the magnitude of this major wave 5 is to be the same as the magnitude of major wave 1 with a 60% gain. The target is Rm1.28 to form a double top reversal pattern. Its Warrant-C (Rm0.46) is expected to reach its previous corresponding high of Rm0.80 (+74%).



However, with some luck, if the magnitude of this major wave 5 can be the same as the magnitude of major wave 3 with a 146% gain, EG can go as high as RM2.00 and Warrant-C, with conversion at Rm0.50 (maturity date is 3/11/2020), is expected to reach at least Rm1.50 (+226%).


And of course I can be wrong too. Only the ONE high up there knows what is going to happen.




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