Dow - has wave (xiii) ended ?

Dow (18,041)

Dow dropped 190 points (-1.04%) at the close of Tuesday trading.

 

If its mini wave 3 has ended with minor wave v missing, a failure wave, then it is possible that the 'ending diagonal triangle', wave (xiii) has ended with this 190 points drop. If Dow continues to drop further in the next few days and goes below the lower trend-line, then, to be safe, I am going to monitor Dow for the major wave (6) correction for a 12% pullback to 16200 level,

 

 

FBMKLCI (1,764)

 

KLCI has started its wave (ii) correction since early April, much earlier than the Dow. If wave (ii) is going for a 100% retracement of its wave (i), then KLCI will ultimately drop 10.5% to 1,673 level.

 

 

With 1MDB's problems, UMNO's internal power struggle and a weakening Ringgit, this wave (ii) may not be a simple a-b-c correction, but tentatively I shall monitor closely for a simple a-b-c. 

 

 

 

 

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