Dow has been moving higher in a very orderly manner with occasional corrections. No reversal pattern so far to spell the end of the uptrend besides the Elliott's wave count that has indicated possible terminal point that failed to get confirmation. One may choose to ride on the trend but must be prepared to cut loss when the direction changes.
Bursa Malaysia Industrial Index has a wave pattern that is very different from that of FBMKLCI and FBMEMAS but surprisingly it followed the Dow closely as shown.
However since January this year, it started to move quite differently. There is a possibility of a sharp downturn.
Singapore STI has chosen not to follow Dow since November 2010. It is interesting to see whether it can break its upper trend line in the next few days. Failure to break the upper trend line will further confirm the down trend.
Hong Kong Hang Seng Index looked very much like the STI, keep an eye on its upper trend line.
Shanghai SSEC has been moving on its own since August 2009 after its 500% run-up. Watch out for the next down-wave of its wave E.
My wave count for Nikkei is as shown above. Its last peak was before the collapse of its 1989 real estate bubble.
With the latest crisis in Japan, Nikkei is expected to remain in the downtrend channel for a longer period..
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