Glottertal, Black Forest, Germany

A beautiful small town 

 In a small valley 

 With a small river called Glotter

 A historic black forest hotel, the Goldener Engel Hotel

With traditional Black Forest style bedroom

 And a nicely decorated Lounge

  Salad with German smoked ham

Corn Fields, Vineyards,

 

 Horses and Flowers

A charming town indeed.

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Mummelsee, Black Forest, Germany

Driving along the Schwarzwaldhochstrasse ( please don't ask me how to read this word ), the scenery was breathtaking.

On reaching an altitude of above 1000m, with temperature dropping to 10 degree Celsius

The Berghotel appeared.

There is a lake next to it, a misty and spooooooky lake. According to legends, the lake is inhabited by a Nix ( a water spirit that likes to appear as beautiful mermaid ) and the King of the Mummelsee.

I preferred to go into the warm hotel looking for quality German smoked hams and sausages rather than staring at the spooky lake.

Or to enjoy a cup of warm coffee and a piece of black forest cake like this charming lady. Hey, she was smiling at me, how lucky.

There was a young man in the drizzling rain looking hard into the misty lake, must be trying his luck, looking for the Nix or the King of Mummelsee.

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Bursa Malaysia - Industrial Index

Scenery Near Mummelsee, Black Forest, Germany

My previous wave count for the Industrial Index is as shown below, anticipating a wave C drop to December 2008's low of 1994 lever or even lower at 1800 to complete its major wave II correction.

However, after Japan's central bank announcement on Wednesday (Sept 19) of its additional 10 trillion yen to purchase Government bonds and bills and last week announcement by the U.S. Federal Reserve of its QE3 program of a $40 billion per month of debts purchasing. It is possible that the Industrial Index may take a different form as shown below.

The December 2008's low is wave 6 and the index is forming sub-wave iii of wave 7.

Dutaland

Dutaland has been under strong accumulation since its January 2009's low.

A possible wave count for Dutaland is as shown. By June 2012, it has completed its 36 months of side-way consolidation (wave 2) with strong accumulation of its stocks. Currently it is forming sub-wave ii of its wave 3. The next run-up will be the sub-wave iii of wave 3, it should be a dynamic run-up with high volume.

Sweet apples, Mt Pleasent Farmhouse, Cotswolds, England.

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Dow - Wave 1 may be extended

Colmar, France

One possible wave count is to treat the March 2009's low of 6547 as the end of mega wave VI. The run-up since March 2009 is the major wave 1 of mega wave VII.

The action by the Federal Reserve to inject $40 billion a month into the US economy is going to push up the prices of financial assets including stocks.Thus wave 1 may be extend to 9 waves. The next major correction can be wave (vi) instead of the major wave 2 as shown below.

Colmar, France

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Gold - Update 7

 Lake Districts, England

Dow continues to inch upwards supported by money printing, US$40 billion a month until unemployment falls. Not many people like this except the politicians and bankers.

This action by the Federal Reserve has kicked start the wave 5 for Gold. Last Friday closing of $1773/oz is well above its upper resistance line.

Base chart courtesy of goldprice.org

Looking at the 36 year chart below

The current wave is the wave 5 of major wave (III). If there is no failure and if wave 5 take the magnitude of wave 1, the minimum target for wave 5 can be US$2307/oz.

However, in term of percentage gained, wave 1 is +310% and wave 3 is +182%, if wave 5 were to gain a similar 182% as wave 3, wave 5 can have a upper ceiling of US$4300/oz. Sound crazy but possible if US$40 billion is being injected into the market every month until 2015.

Roses at Mt Pleasant Farmhouse, Cotswolds, England

 Alsace wine route, France.

Schiltach, Black Forest, Germany.

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