At the close of the first trading session, Dow closed up 1.5% and Nasdaq gained 1.7%. Nasdaq is definitely pulling away whereas Dow is staying slightly above its short-term upper resistance line. S&P as shown below has similarly set a new high since its 2009's low.
The first candlestick of 2010 for Dow formed a bullish engulfing pattern signaling better times ahead. So far, Dow has completed its sub-wave i and ii of wave 7. Monday's candlestick can be the first candlestick for sub-wave iii.
For Bursa Malaysia, KLCI is likely to extend its major wave (III) from 5 to 9. It has completed wave 6 and is currently in wave 7.
KLCI put on a strong candlestick on Tuesday with a run-away gap as shown. Wave 7, 8 and 9 is likely to stretch until Chinese New Year (mid-February).
After that " Look at the Tiger" with care.
Sense of Responsibility
October 27, 2009 - Egypt Transport Minister Mohamed Mansour resigned over train crash that killed 18 people south of Cairo
September 7, 2009 - Taiwan Premier Liu Chao Shiuan submitted his resignation to the President to take the blame for a disaster triggered by Typhoon Morakot that left close to 700 dead and thousand homeless.
September 19, 2008 - Japan Farm Minister resigned because of a scandal involving tainted rice fed to hospital patients and school children.
January 5, 2010 (The Sun) - Two F-5E jet engines worth Rm 100 millions missing from RMAF air force base in Sungai Besi. Attorney-General: Only lower ranks involved. "No senior officers are involved". He said the priority now was to recover the engines.
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