Sunday, November 27, 2016

Dow - Is Major wave (7) about to end ?

Dow (19,152)

Dow is about 150 points away from reaching the upper trend-line. Is this going to be the end of its major wave (7) ?

If this major wave (7) has only 5 waves and is going to end at 19,300, its magnitude appears to be small,

Unless this major wave (7) has 9 waves or more and continues to zig-zag upwards along its upper trend-line.

Another possibility is for Dow to punch through the upper trend-line.

FBMKLCI (1,627)

In the last 5 trading days, KLCI was able to withstand the dropping ringgit and moved side way. 

My wave count for KLCI remains the same. It is either KLCI has already completed its major wave 4  and is about to complete the wave (ii) of its major wave 5

Or it has not yet completed its major wave 4.

The ringgit is fast approaching its record closing low in 1998. One bullish possibility is an A-B-C formation and the ringgit is about to complete its wave 7 of B to give a double-top reversal pattern.

And of course there is also this bearish possibility that  the ringgit will punch through the ceiling and move into record territory. Under this circumstance my above A-B-C wave count can be thrown away.


Thursday, November 24, 2016



Tuesday, November 22, 2016

Dow - In Record Territory

Dow (18,956)

Dow continues to set new historical highs. The main question now is whether Dow will punch through its upper channel line and move above 19,000 level.

FBMKLCI (1,629)

For KLCI the question remained the same, whether it has completed its major wave 4?

Whether it is still trying to complete its wave E of 4,

Or it has already completed its major wave 4 and is currently at the tail end of the wave e of its wave (ii)?

Felda Global Ventures Holding Bhd (Rm1.69)

FGV reported very poor result for its quarter ending 30th September 2016. Its price fell 20 sens today.

If one believed that its 2015 September's low of Rm 1.20 is the bottom, then a possible wave form is an overlapping i-ii-iii-iv-v formation and possibly ends with a double bottom reversal pattern.

But if 2015 September's low of Rm1.20 is not the bottom, then it is very bearish. Its previous high of Rm2.50 could be the wave B as shown below. Under this scenario, its wave C is likely to go below Rm1.00.

And if you think that 'they' will not allow FGV to collapse and 'they' will come out to push, then it becomes a (i)-(ii), i-ii formation.


Saturday, November 19, 2016

I see red I see yellow


Tuesday, November 15, 2016


Courtesy of National Geographic.

You are so beautiful.

Monday, November 14, 2016

FBMKLCI - Another 1% drop on Monday

FBMKLCI (1,616)

KLCI has another sharp drop (-1%) on Monday.

CI might have broken its lower trend-line but technically I still cannot rule out the possibility that It is forming the wave e of its wave (ii). This is because in an a-b-c-d-e corrective wave, wave e can be quite erratic, it can 'fall-short' and it can also 'over-shoot'. With this sharp drop, we have an over shot wave e. Hopefully wave e can hold above 1600 level.


Sunday, November 13, 2016

Trump's Victory - A Topsy Turvy Week for Asian Currency and stock markets

 Donald J. Trump

The focus will be on Trump's pro-growth and inflationary economic policies. Federal Reserve will be forced to raise the funds rate at a faster pace and that will push the dollar up. And that in turn may lead to huge capital outflow from Asia Pacific.

By Friday most Asian currencies were lower against the US$. Japanese Yen dropped 5.3% from Wednesday's 101.29 Yen to a dollar to Friday's 106.68 Yen to a dollar. Korean Won was 1.6% lower, Indonesian Rupiah plunged more than 5%, Australian $ was down 2% and Malaysian Ringgit also lost about 2%.

Crude Oil WTI (US$ 43.13)

Crude oil is currently having its wave (iv) rebound. Wave b of (iv) is expected to be completed before end of 2016.

Dow (18,847)

Dow recorded another new historical high on Friday. If the magnitude of wave (v) is the same as that of wave (iii), Dow may end its wave (v) around 19,340.

FBMKLCI (1,634)

If KLCI has already completed its major wave 4 and is currently forming the wave (ii) of its major wave 5, its wave (ii) is about to end around 1,630 level

However if KLCI continues to move lower next week due to week Ringgit and foreign capital outflow, then it is more likely that KLCI has yet to complete its major wave 4 and it may be heading for 1,500 level to completed the wave e of 4.

Insas Bhd (Rm 0.68)

My reading for Insas is as shown. It has completed its mega wave (1)-(2)-(3)-(4). It also has completed the major wave 1-2 of its mega wave (5). Currently it is forming the wave (ii) of its major wave 3.

I hope I am right.


Thursday, November 10, 2016


FBMKLCI (1,652)

KLCI continues to consolidate. It is either trying to complete its major wave 4.

Or it has already completed its major wave 4 and is forming the wave (ii) of its major wave 5. Wave e of (ii) is about to complete.

EG Industries Bhd (Rm 0.84)

There is a possibility that EG has completed its major wave 4

It is also likely that it has completed the sub-wave i-ii of its wave (i) of 5. I hope today's 2 sens gain marked the starting of its sub-wave iii.

RCE Capital Bhd (Rm 1.44)

RCECap continues with the wave (iii) of its major wave 5.

It added 9 sens today to close at Rm 1.44 to form its mini wave 3.