Weekly Update

Dow (18,543)

Dow moved up strongly on Friday, gained 191 points (+1%). The two weeks of down-trend is too long to be a mini wave 4 that I have mentioned previously. It appeared more likely that it is the sub-wave ii, even though the sub-wave i has only 3 waves. If the current up is the sub-wave iii of wave (iii), it is expected to be strong and dynamic otherwise it is a small wave b of ii rebound.

FBMKLCI (1,664)

KLCI continued with a stronger second green candlestick, very promising. But it stopped right at the upper trend line. Can it punch through the ceiling next week? If the government is pushing, then sub-wave iii will continue. And of course if the government is not pushing, we can forget about the Malaysian stock market as long as the 1MDB issue remained.

Felda Global Ventures Holding Bhd (Rm1.95)

FGV gained 5 sens on Friday. With that it is either forming its mini wave 5,

Or it is forming its sub-wave v, if it can punch through its upper trend line.

Insas Bhd (Rm 0.64)

I have revised my wave count for Insas. Most likely it has not yet completed its sub-wave v of its wave c. It may need another 3 weeks to complete the sub-wave v unless it is a failure v.

EG Industries Bhd (Rm0.855)

I hope its Friday's green candlestick marked the starting of its wave (iii).

Dufu Technology Corp. Bhd (Rm0.62)

The next up-trend for Dufu is its sub-wave v.

Kronology Asia Bhd (Rm0.215)

Very likely Krono has started its major wave 3 since early July

The wave form will be very bullish if it can move to 24 sens to form its mini wave 5. This 5 waves can be taken as confirmation of the starting of its major wave 3.

The next pullback can either stop at 22 sens for its mini wave 6 or it can stop at 20 sens to form its sub-wave ii. Krono is likely to take a few months to complete its major wave 3.

RCE Capital Bhd (Rm0.75)

The wave form for its wave (i) is very bullish. I have been waiting patiently since November 2015 for it to complete its wave (ii). 8 months is indeed a long wait.

Identical to Krono, if RCECap can move to 79 sens to form a mini wave 5, it confirmed the starting of wave (iii). Then the next correction can either be mini wave 6 or sub-wave ii.

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