Dow - Mega wave B is likely to end in October

Dow continues with its wave iii formation. I am still maintaining my Mejor wave 5-A-B-C-6 pattern as shown.


Looking at the above chart, Dow has completed about 45% of its wave iii. Major wave B is likely to finish in October 2010.

Bursa Malaysia Indices

The Composite Index is currently 12% above its 1994 peak, it has yet to break its 2008 January peak of 1516.


Industrial Index is about 16% higher than its 1997 peak



Amongst the various sectors, plantation stocks gave the best performance to date with a gain of 72% above its 1994 peak.



Consumer products has also performed very well with a gain of 53% over its 1997's peak.



Finance sector is third in line with a gain of 14%.


Trades and services is currently -23% below its 1994's peak



Industrial Products remains 55% below its 1994's peak.



Construction sector is equally bad. It remains at 57% below its 1997's peak.


The worst sector is the property sector. It remains at 75% below its 1994's peak.