Dow dropped sharply last Friday followed by a strong rebound on Monday. It appeared to me that it was forming the wave 3 and wave 4 of its wave c of its sub-wave ii.
Friday's drop was due to worry over possible interest rate hike in US and uncertainty in global monetary policy.
FBMKLCI (1,677)
KLCI is having its mini wave 2 correction with a possible 100% retracement to 1,670 level.
My wave count for Insas, FGV and EG remained the same as what I have written in my last posting.
Insas is forming the minor wave iv. Both FGV and EG are forming their respective mini wave 2.
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