FBMKLCI - Expected to drop in tandem with Dow

FBMKLCI (1,750)

If the wave (v) of Dow  has only five sub-waves and major wave 7 is going to end in May and is going to be followed by major wave 8 correction that is going to drop 15% or 3,300 points, I would expect KLCI to plunge in tandem with Dow.

The only way for KLCI to drop in tandem with Dow in May is to revise my previous wave count for KLCI to the wave form shown below - a mega wave (6) formation.

Mega wave (5) is a failure wave with major wave 5 missing and has ended in July 2014. Since then KLCI has been forming wave A-B-C of its mage wave (6). Wave B is expected to be completed in May in tandem with Dow's completion of its major wave 7.  Wave C of KLCI will be in tandem with Dow's major wave 8 correction with a 15% drop.

If the current KLCI's wave (iii) of B's run-up can end at say 1820 level, a 15% drop will bring KLCI to around 1,550 level to complete the wave C of its mega wave (6).  I expect KLCI's diagonal mega wave (7)-(8)-(9) to coincide with Dow's major wave 9 run-up, the last surge to complete Dow's mega wave VII at around 31,000 level as mentioned in my 21st February 2017's article, before the mega wave VIII correction (40% to 60% drop) takes place.

KLCI is about to complete its mini wave 7. It will complete its wave (iii) and B in May.

Please bear in mind that wave form can change as it progresses with times. I don't rule out the slim possibility that by May, instead of confirming the 15% drop, the chart is painting a different picture. Same words - anything can happen in stock market.

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