Dow caught me by surprise with a 440 points (1.77%) rebound on Friday, when I was looking for the starting of mini wave 3 of iii of A. But as long as it doesn't go higher than its sub-wave ii's closing high of 25,709 my current wave count can still hold.
However if Dow continues to move higher and go above 25,709 then it is more likely that major wave 7 has not yet ended. The current correction is more likely to be the wave (vi) of 7, A more bullish scenario.
FBMKLCI (1,843)
To tie in with the two possibilities of Dow, I have developed two possible wave counts for KLCI.
If Dow is having its major wave 8 correction, KLCI is likely to go for its 15% wave C pullback.
If Dow is only having a wave (iv) correction, KLCI will be having its sub-wave (iv), a side way consolidation.
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