FBMKLCI to move in tandem with Dow

Dow added 125 points to 16,446 after 2 hours and 30 minutes of trading on Tuesday.

In the last 3 days Dow dropped 673 points or about 4% to 16,321 level, merely 21 points above my final support level of 16,300 level for the wave (xii) option.

Is the Monday closing level of 16,321 marked the completion of wave (xii) for Dow?  If so, Dow will start to run up from here in the next few months to complete its wave (xiii) and possibly its major wave (5).

Under this scenario, for FBMKLCI to move in tandem with Dow and to move higher from its current level. Then it is likely that the major wave 4 will take the form of a 3-wave up and down a-b-c-d-e pattern.

So far FBMKLCI has completed 3 waves for wave c and can move up from here to form the wave d.

However, if today's rebound for Dow is only a technical rebound and after this rebound Dow proceeds to move lower than the 16,300 level. Then as I have mentioned earlier, Dow has completed its diagonal triangles wave (ix) as well as its major wave (5) and Dow is forming its major wave (6) currently.

 

Major wave (6) is likely to end at around 14,700 level for a 15% correction. 

To be in tandem with Dow, FBMKLCI is likely to drop either to 1,686 level to form its 5-wave wave c of major wave 4 for a 11% correction, or to 16,000 level for a 15% correction

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