Weekly Update

Dow (24,706)

Dow gained 711 points (+3%) within a week to close Friday at 24,706 level and that is too high to be considered as a wave iv of C. The only option left is an expanding 3-3-3-3-3 expanding A-B-C-D-E formation for the major wave 8.

Crude Oil WTI (US$ 53.73)

Crude Oil (WTI) price at this moment appeared more likely that it is forming the wave (iii) of D that is likely to end at around US$85 level before turning south to form its wave E.

But I still cannot rule out my previous option that it is currently forming the wave D. The height of its current rebound will decide which is the finally correct option.

FBMKLCI (1,692)

My reading for KLCI remained the same as what I have mentioned so far. It is either on the wave (iii) of its major wave 5

Or it is at the tail-end of its mega wave (6).

Berjaya Corporation Bhd (Rm 0.295)

BJCorp's stock has been dropping since 2010 with no sign of a reversal. However, since early 2016, its OBV has been moving in an opposite direction to its price movement (Price-OBV Divergence) indicating strong accumulation.

In its run-up in early January, it has its first OBV breakout. There is possibility that BJCorp has bottomed in September 2018. Since then if my interpretation of the completion of wave i-ii and wave 1-2 is correct, BJCorp is on its long term bull run and should start to move higher next week to break the 32 sens level. Failing which, my reading is wrong, that means BJCorp is still searching for its bottom.

Inari Amertron Bhd (Rm 1.39)

Inari is having its wave B of (2) rebound at this moment.

Insas Bhd (Rm 0.725)

Based on my previous reading for Insas, it is currently forming the wave iv of C. Insas is about to complete its mega wave (4).

Another possibility for Insas is to take its 2016 low as the end of its mega wave (4) and since then Insas has formed its major wave 1-2 and there is this possibility that Insas is at the beginning of its major wave 3. Too bullish to be true? Just keep the fingers crossed.

Here is an article by Sslee on Insas. Click 'My Response to Some Comments in Insas Forum' for some facts and figures on Insas.

.