Syabas Bersih 4

Syabas

Siti Hasmah, "We are Malaysian"
Dr. M, "I joined Bersih because I want Najib to step down"
Maria Chin, "Should there be a Bersih 5 in the future, it will be a 'celebration of the people'"

This peaceful ending should push the KLCI higher on Monday.

FBMKLCI (1,612)

KLCI moved higher 4 days in a row before the 'Merdeka' long weekend. It also signaled a possible completion of the '3-wave' wave e of 4.

Is this the starting of major wave 5 ? I hope so. But since Ah Jib Kor and 1MDB issues are still around so the first sub-wave of major wave 5 can be very choppy. The important thing is KLCI should not go below last Monday's low of 1532.

Hopefully this major wave 5 can run until early 2017. And if mega wave I has only 5 waves then the mega wave II may go for a 60% correction, at least.

Dow (16,643)

It is also possible that Dow has completed its major wave (6) as the magnitude of the current rebound is too big and is greater than the wave B rebound. Hopefully this is the starting of major wave (7).

 

My projection for major wave (7) is around 20,700 level, assuming a 32% increase.

I hope I am right.
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