Dow - Forming sub-wave iv
Mark Cook, winner of the 1992 U.S. that developed a primary indicator, the 'Cook Cumulative Tick', believed that based on his indicator, the market will suffer a 20% or greater pullback within 12 months.
He said, "There have been only two instances when the NYSE Tick and stock prices diverged radically, and that was in the first quarter of 2000 and the third quarter of 2007. The third time was April 2014."
Dow dropped 34% from December 1999 to September 2002 and it dropped 53% from October 2007 to March 2009.
Click 'Bear Market within 12 Months' for the article.
Golden Pharos Bhd (Rm 1.05)
GPharos added 9.5 sens today to close at Rm1.05. It is possible that GPharos is forming the wave b of its wave (iv). This can be confirmed if it starts to come down in the next few days.
However if it continues to move higher tomorrow, then it is more likely that wave (iv) has been completed and GPharos is on its way to complete its wave (v).
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