Divergence can be noticed between Dow and some Asian Bourses. Hang Seng has started to go south. Bombay is quite clear by now that it's major wave C has started.
DOW
If sub-wave 5 has only 9 mini waves and wave (iii) has only 5 waves, major wave B can be completed within 2 weeks before end of February.
However if wave (iii) has 9 waves as shown above, Dow is likely to drag until April if its prices can be kept within the channel for a wedge formation.
Bursa Malaysia
Bursa Malaysia FBMKLCI dropped by about 2% today, said to be caused by the dumping of shares by foreign funds in respond to an article (click to read) written by former US Ambassador to Malaysia John Malott. Despite the sharp drop, the Industrial index is able to stay above the lower support line.
Based on Bursa Malaysia's figure, foreign fund turned net seller in January 2011 with negative Rm 0.1 billion.
No comments:
Post a Comment