Dow - Wave (xii) formation ?

DOW

The 500 points rebound over 6 trading sessions a week ago has thrown out my wave c with 5 mini-waves and instead I have a wave c with 3 mini-waves. It appeared that Dow is heading for an expanding 3-3-3-3-3, a-b-c-d-e wave (xii) formation as shown below.

FBMKLCI

My wave count for FBMKLCI remained the same, sub-wave iii in progress.

FACB Industries Incorporated (Rm1.43)

My wave count for FACB is as shown below.

 

It is forming the mini wave 5 of its wave (vii).

 

FACB gained 12 sens (9%) with very high volume on Friday forming the mini wave 5.

It has a very healthy balance sheet with Rm 147 million cash.

 It has zero borrowing.

Since FACB has only 84 millions shares, that gives the stock a cash backing of Rm 1.75 per share before taking into consideration its other business operations in Malaysia, China and Hong Kong.



.