Dow - What's next

Dow gained 193 points (+1.8%) to close at 10,944 at the end of Tuesday session, to form a solid green candlestick as shown above. However it remained within the 10960/10682 channel. Its next move has many possibilities as shown below.


It can be sub-wave 3 of wave iii, sub-wave 2 of wave iii, sub-wave 4 of wave iii or my original hypothesis of wave iv. Hopefully I can have a clearer picture by Friday. For the first three wave iii scenarios, any correction/pullback should not be big except the last scenario of wave iv, where the pullback can be around 600 points

Inch Kenneth

Inch Kenneth put on 6.5 sen today to close at 68.5 sen after setting an intraday high of 71.5 sen. My chart reading for Inch Kenneth is as shown above. It is forming sub-wave v of wave 3 of its major wave (V). After completing wave 3, there will be a wave 4 pullback. 60 sen level can be a good support for the pullback.