Mini-wave 2, a-b-c is completed. Is Dow going for its mini wave 3 drop ? This will be confirmed if Dow moves lower than mini-wave 1.
However, I will be proved completely wrong and will have to revise my wave count if Dow moves higher next week and goes for new record high like Nasdaq.
FBMKLCI (1,721)
KLCI continued with its mini-wave 5 last week, it has been dragging for over a month. A technical rebound may come anytime. The rebound can either be a 30 points mini-wave 6 or a higher magnitude wave b rebound.
Ringgit Continued to drop
The Ringgit set another new low last week. Against the British Pound, it has dropped from Rm 4.80 to a pound many months ago to last week almost Rm 5.90 to a Pound. I really feel the pain having my holiday in London. A bowl of Vietnamese pork noodle is costing me Rm 47.00 (8 Pound).
But dollar to dollar things are cheap in London except restaurant foods.
With a one-pound coin, A few days ago, I bought a freshly baked 12-inch tiger bread, a croissant that is still hot, just came out from the oven and a mini baguette and I still have 6-pence left.
The quality of bread here is very good. I think most likely they have good quality flour over here. My wife has decided to bring some flour back to KL, she has a bread maker back home..
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