Saturday, April 14, 2018

Dow - going south to complete its wave C?

Dow (24,360)

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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