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.
.
No comments:
Post a Comment