Despite some rebounds in the last few trading days, my wave count for Dow remained the same unless Dow can continue to move higher next week, then I would have no choice but to revise my current wave count.
FBMKLCI (1,868)
KLCI rebounded for 4 trading days in a row, gaining 36 points, following the dissolution of parliament on 7th April. It has a small 5 points pullback on Friday. If KLCI were to go down all the way from its current level, the rebound in the last few days could be the right shoulder of a 'Head & Shoulders' reversal pattern. A drop below the neckline at around 1,820 will confirm the wave C (-15%) pullback.
With G14 election around the corner, KLCI could be quite volatile.
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