Dow continued to zig-zag higher last week without a significant pullback and in the process it gave its minor wave v a magnitude that is much larger than the magnitude of its minor wave iii. Since the third wave cannot be the shortest wave, I expect the mini wave 9 to have nine minor waves instead of five.
Based on similar reason, sub-wave iii cannot be the shortest wave, wave (v) should have nine sub-waves. This is a very bullish scenario but never forget that anything can happen in stock market and the bear usually strikes at the most unexpected moment. Be prepared to run when required.
FBMKLCI (1,828)
I expect KLCI to start forming its mini wave 9 next week.
Kluang Rubber Co (M) Bhd (Rm 4.16)
Kluang is likely to have completed its sub-wave iii. Sub-wave iv is likely to take a few month to complete. Unless the last high is one degree lower.
Kuchai Development Bhd (Rm 2.22)
I have adjusted my wave count for Kuchai as I believed Kluang, Kuchai and Sg. Bagan have to move in tandem with each other and must have a similar wave form. So, same as Kluang, Kuchai is likely to be in sub-wave iv.
Sg. Bagan Rubber Co. (M) Bhd (Rm 3.36)
Similarly I have adjusted my wave count for Sg. Bagan.
T7 Global Bhd (Rm 0.515)
T7Global has completed its mini wave 4 and mini wave 5 has started.
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