If Dow is not going to be good, FBMKLCI should not be good too. But after staring at the FBMKLCI chart for a long time, my wave count for FBMKLCI remains the same as what I have posted two days ago.
FBMKLCI has yet to complete its wave (v) to form the major wave 3. It also needs to form its major wave 4 & 5 to complete its mega wave (5) in order to complete its super wave (I).
But it is impossible for FBMKLCI to continue with its up-trend run if Dow were to move down-trend. In order for FBMKLCI to complete its super wave (I), the assets bubble should not burst in the near future until FBMKLCI has completed all its move.
Is there another alternative wave count for Dow other than what I have mentioned yesterday ?
Yes, there is one alternative wave count as shown below that can tie-in with FBMKLCI.
I have to replace the diagonal wave (v) with wave (vi), (vii) and (viii). Its wave (ix) will tie in with FBMKLCI wave (v). Its next major wave (6) correction will be in tandem with FBMKLCI major wave 4 correction.
Both the wave (ix) of Dow and wave (v) of FBMKLCI will take about three to four months to complete, that will take us to end of 2013.
For the above to happen, Dow can only zig-zag upwards in the next 3 to 4 months, no more turning back. But do remember the risk factor. For Dow I still can not rule out the possibility that the run since March 2009 has ended.
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