Sunday, March 18, 2018

Dow - To plunge or to surge ?

Dow (24,946)

Following my previous bearish reading of a major wave 8 correction (-15%), Dow is forming its wave C of 8. It has completed the sub-wave i-ii and mini wave 1-2, the next down will be the mini wave 3 of sub-wave iii, the drop can be sharp.




However if Dow can have a strong surge in the next few trading sessions, starting next Monday,


or it can continue to drop for the next two to three days next week follow by a strong surge before end of the week, then the current correction since early February is only a wave (iv) pullback. The major wave 7 is going to have 9 waves instead of 5 waves. There will be more new record highs in front before the completion of this major wave 7.



FBMKLCI (1,846)

Moving in tandem with the Dow, KLCI has been forming a similar pattern as Dow since early February


If Dow were to plunge, I guess KLCI  will plunge in tandem to complete the wave C (-15%) of its mega wave (6).


However if Dow were to surge higher, KLCI is expected to break out at the upper end.



A very bullish scenario. Is it possible?

Insas Bhd (Rm 0.905)

I am still waiting for Insas to unfold its major wave 5 with a minimum target of Rm 1.80.


Has Insas completed its major wave 4? I hope it has but it is always difficult to pinpoint the ending of a corrective wave.


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