After so many months of red candlesticks, the current February candlestick has turned green, so far so good.
It is likely that the January's low of US$ 43.58 marked the end of wave 3. If wave 4 has started, it is going to take 2 to 3 years to complete with prices moving within US$ 50 to US$ 80. This should be good for the world economy.
Dow (17,824)
Dow continues with its wave d of (xiv) if I am right.
After the completion of wave (xiv) Dow will have to complete its waves (xv), (xvi) and (xvii) to reach its next possible major turning point.
FBMKLCI (1,813)
Hopefully KLCI has ended its major wave 4 and its major wave 5 has started. This major wave 5 is expected to last for about 2 years until early 2017.
At this moment KLCI is either forming the sub-wave iv of its wave (i) of 5.
Or it is forming its mini wave iii of sub-wave iii.
KSL Holdings Bhd (Rm 2.04)
If KSL continues to drag its current correction longer, this corrective wave can be the major wave 4 of its mega wave (3).
Then it is possible that before end of February KSL is going to announce a disappointing quarterly earning for its quarter ending 31st December 2014.
Under this scenario, its price may have to move lower to complete the wave e of 4.
However, if KSL can break Rm 2.15 in the next few days, then the last low of Rm 1.70 in early January can be the end of wave (iv) and at this moment it is forming the sub-wave iii of its wave (v) of major wave 3.
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