KLCI - Sub-wave 3 about to start

On last Friday and today KLCI formed two candlesticks that looked like 'hanging man' but with a short lower shadow as shown in the enlarged version as shown below. 'Hanging man' signals that selling pressure has started to increase.
For two days the market opened high followed by sellers that pushed the prices lower during the session and at the close the prices were being pushed higher. 'Hanging man' needs confirmation for reversal in the form of either a long red candle or a red candle with a gap. Either one of these two candles will confirm the starting of the sub-wave 3 down south.

However there is still a possibility that KLCI may move up a few more points to form a small i-ii-iii waves for the sub-wave 2 before it started to go south as shown below.