Similarly for Singapore STI as shown below, the upper limit is 2,680.
For Nikkei, I should have drawn two lines forming a wedge instead of two parallel lines. The upper limit following the same logic is 10,000.
If I consider Dow for the option having the same pattern as the Asian bourses, Dow with its 1-2-3-4 wave count as shown below, its upper limit can be 9,000.
For KL Composite Index, the projection is 1,077 that is not very far away.
It is important to note that for all the above to remain valid, wave 5 must be shorter or equal to wave 3. It can never never be longer that wave 3. If in the coming days, wave 5 becomes much longer than wave 3, it is a very very bullish development. I will touch on that later. Look out for volume, a lower wave 5's volume signals ending of a major up trend, a higher wave 5's volume than that of wave 3 signals more good times in front.
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