I still maintained that the option where Dow has just completed the major wave (I) is of a higher possibility. Based on this option, last week Dow has completed its sub-wave i of its major wave (II), I am expecting a rebound (one or two days) to complete sub-wave ii follows by a sharp sub-wave iii pullback to 8000 and below
If Dow is going for an "inverted head and shoulders" formation as shown below, wave (II) pullback can go to 7400 and below.
Hang Seng is one wave ahead of Dow. The March - June advance is its major wave (III). Last week it has completed its sub-wave i of wave (IV). It will follow Dow with a small rebound for one or two days to complete sub-wave ii follows by a sharp sub-wave iii pullback.
STI has been following the DOW very closely. Next week movement will be the same as Dow.
KL composite index's wave count is similar to Hang Seng. The March to June run-up consists of 9 waves as shown. Similarly I am expecting another one to two days rebound before the sharp sub-wave iii takes place. Last chance for me to sell whatever balance of stocks I have. Keep cash is the advice.
If Dow is going for an "inverted head and shoulders" formation as shown below, wave (II) pullback can go to 7400 and below.
Hang Seng is one wave ahead of Dow. The March - June advance is its major wave (III). Last week it has completed its sub-wave i of wave (IV). It will follow Dow with a small rebound for one or two days to complete sub-wave ii follows by a sharp sub-wave iii pullback.
STI has been following the DOW very closely. Next week movement will be the same as Dow.
KL composite index's wave count is similar to Hang Seng. The March to June run-up consists of 9 waves as shown. Similarly I am expecting another one to two days rebound before the sharp sub-wave iii takes place. Last chance for me to sell whatever balance of stocks I have. Keep cash is the advice.
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