My guess is Dow has completed its major wave 7 and has started its major wave 8 pullback. The magnitude of the drop is estimated to be 15%.
Under this scenario, Dow is expected to move all the way to below 20,000.
However if Dow can move higher next week and can continue to move higher and set more new record highs,sub-wave v will be extended as shown below. But all we need to rule out this option is to have another 200 points drop to below last Thursday's closing level.
Another possibility that can prolong the current up-trend is for wave (v) to have 9 sub-waves as shown below. That means the current correction is the sub-wave vi. But the moment Dow dropped below 21,200 level, this option can be ruled out and Dow will be moving to below 20,000.
FBMKLCI (1,766)
KLCI drop another 10 points last Friday. Unless it can have a strong rebound next week and can move above its previous high, KLCI will continue to form its sub-wave iii and heading for 15% pullback to complete the wave C of (6).
ATTA Global Group Bhd (Rm 1.02)
At best ATTA can have a wave B rebound to form a 'head and shoulder' pattern.
EG Industries Bhd (Rm 0.78)
EG's wave C of 4 has formed 7 waves. It may proceed to form 9 waves to complete the wave 4.
Gadang Holdings Bhd (Rm 1.23)
Gadang is forming its major wave 4.
Inari Amertron Bhd (Rm 2.35)
Inari has completed its major wave 7 and is currently forming its major wave 8.
Insas Bhd (Rm 0.955)
Insas is about to complete its wave c of (iv).
Priceworth International Bhd (Rm 0.20)
PWorth is about to complete its major wave 4 unless the 2016 October's low is not the bottom then PWorth may drop all the way to the bottom to set a lower low.
RCE Capital Bhd (Rm 1.64)
RCECap is forming its major wave 8.
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