Dow set a new historical high after Federal Open Market Committee (FOMC) decided not to scale back the US$85 billion a month asset purchasing programme.
With this new record closing, the option for Dow that I have mentioned in my August 22 posting becomes the most likely wave count for Dow.
Wave (ix) is going to take a few months to completed, that will push the 'major wave (6)' option and the 'game-over' option to 2014.
Similarly for Bursa Malaysia FBMKLCI, it will have adequate time to complete its major wave 3,4 and 5 to complete its mega wave (5) before the next major correction in 2014.
Gunung Capital Bhd
Gunung gained 6.5 sens today to close at 83 sen. It is possible that this is the first candle of its wave (v). Gunung's earning per share is 8.6 sens for the first 6 months, very impressive.
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