Dow continues to move higher in the last few days with new record highs and has eliminated the possibility that sub-wave v has ended as the mini wave 9 has five minor waves.
FBMKLCI (1,759)
Within 3 trading sessions KLCI has gained 40 points and has surpassed my projected target of 1,750 for sub-wave ii.
With this sharp magnitude it appeared to me that the current rebound is more likely to be a wave (iv) of C as shown below and I expect KLCI to move lower and lower again.
Where wave C is going to have 9 waves for a 15% pullback to complete the mega wave (6).
But if KLCI can continue to move higher and higher in the next few weeks, it is possible that the wave B of (6) has not been completed yet and wave C with 15% pullback has not yet started.
The June high of 1,792 is not the end of major wave 3 of B, it is the wave (i) of 3 of B.
The low of 1,713 on 4th December is the wave (ii) of 3 of B.
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