Dow continued to move higher on Tuesday. After one hour of trading it gained about 0.25% to 15262. The current rebound can be the wave b The following wave c can bring Dow to below 14500 level to complete its wave (viii).
However if Dow continues to move higher than 15500, one possibility is that, Dow is forming a diagonal wave (v). Under this scenario major wave (5) may be completed by end of August.
Another possibility is a euphoric run-up for Dow before the bubble burst. Under this option, the last pullback is not wave (viii), it is an one-degree lower wave 2/(vii). This run may last until end of 3013 and Dow may reach 20,000 level. It is going to be a crazy run.
SEAL Incorporated Bhd
If the 41 sen low in May is the end of major wave (2) for SEAL, the subsequent run-up to 58 sen can be the sub-wave (i) of its wave 1.
Seal surged to a high of 61.5 sen before ending the day at 58 sen. The volume recorded is an impressive 14.6 millions, which is about 6.7% of SEAL issued and paid up shares of 215 millions.
From the volume, it appeared that the current run is the sub-wave (iii) of wave 1 of its major wave (3).
SEAL is expected to continue its run-up tomorrow.
However, if buyers were merely testing the market today and decided not to do anything in the next few days, it is possible that its price may drift down to 48 sen again to complete the a-b-c waves of its sub-wave (ii).
Other info. : 1st quarter ending March 31st, its earning per share is 4.13 sen, NTA = 84 sen per share. Fixed deposits and cash Rm34 millions. Bank borrowings 1 million only.
Dutaland
The recent one week rebound is likely to be the wave b and the 2 sen drop today may mark the starting of wave c. If it goes for 100% retracement, it can go as low as 43 sen again.
Courtesy of kedarphotography
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