In order to absorb US$85 billion a month of printed money so that it won't depreciate value of US dollar, stocks prices and other asset values need to move higher and higher and higher. The asset bubble will ultimately burst but not now.
At this moment Dow is either forming its sub-wave ix as shown to complete its wave (vii), (if Dow continues to move higher).
OR wave (vii) has already been completed as shown below (if Dow continues to move lower), then the anticipated 8% to 9% wave (viii) correction has already started.
If Dow can hold, Bursa Malaysia should be able to hold. So what we have seen today is just a normal corrections.
.
No comments:
Post a Comment