Dow surged 421 points (+2.43%) on Thursday. It achieved the magnitude of mini wave i of b in two days instead of my expectation of 10 days or more. This b wave may even overshoot its wave (xiii)'s high of 17,958.
Both the European and US markets surged on news that the Swiss National Bank imposed a negative deposit rate of -0.25%. People will buy assets instead of keeping money in the bank. Investors viewed the action of Swiss National Bank as a prelude to more QE programs from the European Central Bank. More fuel for the assets bubble. Roubini may be right in saying that the bubble will not burst for another two years.
KSL Holdings Bhd (Rm 1.90)
Has KSL completed its wave (iv) ? If c has only 5 waves then it should have, unless the current rebound is the mini wave 6.
If wave (v) has started, how high will it go ?
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My friend, finally found someone using elliott wave for Malaysian counters... :)... but would like to share for S&P there may be a chance for this to happen if all time high is hit within this and next month... many were thinking this could be Major 4 downtrend, but it lost only 5%, so it's still in extension of P3 wave... https://abchartdotorg.files.wordpress.com/2014/12/19122014spx.png
ReplyDeleteBeware, christmas usually brings low volume and tendency for stock to rise higher is possible...
KSL - my wild guess
ReplyDelete3 = 2 or 2.618 X wave 1
wave 1 = 0.8/0.9
wave 2 = 0.7
wave 3 = 2.5 or 3
I'm still learning ....