With last Friday's 96 points gain, Dow managed to move above its short-term upper resistance. If Dow can continue to move higher next week, it is forming the mini wave 3 of its sub-wave iii of its wave (v) of its major wave (7).
However, if Dow starts to move lower in the next few sessions, then nothing has changed despite last two session's 215 points gain. Dow remains in its wave (vi) formation, an expanding a-b-c.
FBMKLCI (1,698)
KLCI formed a small gap last Friday. Is this an exhaust gap? If it is indeed an exhaust gap, then KLCI has completed its mini wave 3 and will move into a one week or longer correction to form its mini wave 4.
But, if KLCI can punch through its upper trendline, then it is the last surge of its sub-wave i before a more than 2 weeks sub-wave ii correction.
Berjaya Corporation Bhd (Rm 0.395)
BJCorp is likely to have completed its sub-wave i, if this sub-wave i has only 5 waves.
But if BJCorp can continue to move higher than 41 sens next week, it means sub-wave i has 9 waves. The current correction is the mini wave 6.
If BJCorp is forming its mega wave (3), it still has a long long way to go in its current up-cycle. There is this possibility that I may be wrong but I feel that this is a potential goldmine.
Paragon Union Bhd (Rm 0.555)
Paragon surged to as high as 59 sens on Friday morning before profit taking brought it down to 55.5 sens at the close.
The current up is the sub-wave v of its wave (iii) of major wave 3.
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