(Double clicks to enlarge the chart)KLCI after hitting a bottom at 835 in December 2008 (refer to my older posts), it has so far completed wave (I) and (II) to form a "Triple Bottoms Reversal" pattern. Wave (III) started in March 2009 from 837. So far wave (III) has completed its sub-waves i-ii-iii-iv-v-vi-vii and viii, currently it is in sub-wave ix that may take another 3 to 4 days to complete. Based on the magnitude of wave(I) of 92 points, by using Fibonacci ratio of 2.618, wave (III) can end at 1077 (92x2.618+837) unless wave (III) continues with sub-wave x-xi-xii and xiii, under such circumstances Fibonacci ratio of 3.618 will have to be used.
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