After 2 hours of trading, Dow dropped 21 points (-0.16%) to 13,253. This can be a minor pullback but any turning point at the completion of 5 waves can be the end of an uptrend.
If Dow continues to inch up gradually with backing from the bankers and the government, South East Asian bourses including Bursa Malaysia should be able to hold, at least they won't plunge. So nothing to worry.
However if Dow stop to move higher for some reasons in the next few sessions and if it drops below 12878 level, watch out for the following 'critical option'.
This can be the starting of wave iii of major wave 2.
The worst case scenario for major wave 2 is a 100% retracement to March 2009's low of 6547 level.
The above wave count is based on my hypothesis that March 2009's low is the end of mega wave VI, Dow has completed major wave 1 of VII and is currently forming major wave 2 of VII.
I will be quite busy in the next 4 weeks, so no more writing from me during this period. Take care, my friends.
Schiltach, Germany
Gengebach, Germany
.
.
No comments:
Post a Comment