2016 First Trading Day - Bloodbath

Caused by poor economic data and concerns over China's economic slowdown plus the political tension in the Middle East, Chinese stocks plunged 6.86% triggering a trading halt in the afternoon.

Panic selling by investors in Asia and Europe caused the respective indices to drop by 2% to 4%.

Dow dropped 425 points (-2.4%) to 17,000 level after about 3 hours of trading. It is going for a complex a-b-c-d-e-X-a-b-c sub-wave iv.

KLCI dropped 39 points (-2.3%) to end at 1,653. Very likely it is going for a complex a-b-c-X-a-b-c wave (ii) correction in tandem with Dow.

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