Monday, September 7, 2009

FBMKLCI - Last surge has started


I still prefer to keep my opinion that the current up trend for KLCI is a bear market rebound or as termed by Elliott, a major wave B rebound. If this is a wave B as shown above, sub-wave v of wave 3 has started and is heading for 1300 to complete the B.

A bullish alternative wave count for KLCI is as shown below.

This wave count is assuming that the December 2008 low of around 850 is the end of the bear market, the run-up since the December low is a new cycle.

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