Dow - when will mega wave B end ?

Dow dropped 140 points (1.14%) on Monday when Standard & Poor's Rating Service lowered its outlook for the U.S. long-term debt rating to "negative" from "stable." S&P didn't reduce its AAA rating but warned that the country's $1.5 trillion deficit, at 11 percent of gross domestic product, was too high.



As long as Dow can hold above 12,000 it remains in its mini-wave ii of sub-wave 7.



As for Nasdaq, the previous high at 2799 on 6th April is too low to be the end of sub-wave 5, it is very likely that it is forming its mini-wave ii of sub-wave 5 at this moment.

Karambunai Corporation Berhad

Karambunai put on 4.5 sen (21.43%) to closed at 25.5 sen today when an update on the proposed Karambunai Integrated Resort City under Entry Point Project 5 (“EPP #5”) was presented at Putrajaya today.

For full text of the update, click "KIRC"

One possible wave count for Karambunai is as shown below.



The OBV for this stock indicates strong accumulation of stocks. This option of wave count is similarly very bullish. It is currently in mega wave (III), it has so far completed its major wave (1)-(2), wave 1-2 and sub-wave (i)-(ii). The price surge today can be the starting of sub-wave (iii). To confirm the above wave count it needs to break its previous intraday high of 29 sens, failure which, the next possibility is a side way consolidation wave a-b-c-d-e wave 2, currently at sub-wave (iii) of wave d.



Got to keep an eye on Dow for possible abrupt ending to its last journey of mega wave B.


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