There is this possibility that the 201 points (-0.77%) drop on Friday is the starting of wave iii of C of the major wave 8 for Dow. If it is indeed the starting of wave iii, Dow will continue to go South in the next few weeks until its completion before the wave iv of C rebound can take place.
However Donald Trump will be meeting Xi Jinping on 30th November and 1st December at the G20 Leaders' Summit in Argentina. If they can come out with something to end the US-China trade war, and the Federal Reserve can postpone the interest rate increase, the current run-up can be the starting of Dow's major wave 9. Dow has completed its major wave 8 with a contracting A-B-C.
But my guess is - it is very unlikely that major wave 9 has started. I am monitoring for the wave iii of C's plunge.
When US market starts to plunge, markets all around the world including Bursa Malaysia will dive in tandem.
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