Weekly Update

Dow (25,451)

I have been paying too much attention to the 'hourly Chart' so much so that I saw only the tree and I missed the forest. 

Technically the wave B of major wave 8 can go as high as the top of major wave 7. The possibility of a big 8% to 10% pullback cannot be ruled out at this moment until Dow is well above the top of major wave 7.

The more bullish possibility that I mentioned on Wednesday is another possible option.

FBMKLCI (1,769)

If Dow were to go for a correction of 8% to 10%, KLCI will take the option of a mega wave (6) correction, completing the wave C of (6).

But if Dow were to move higher all the way from its current level, KLCI will take the major wave 5 formation.

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Dow - I may be wrong in my previous wave count.

Dow (25,414)

Dow added another 172 points on Wednesday and that has stretched my wave count for my hourly chart to the extreme for a possible wave B.

My previous wave count can still hold under only one condition, Dow must start to pullback on Thursday and must continue to move lower in the next few weeks by 8% to complete the wave C of its mega wave 8.

If Dow continues to move higher on Thursday, I will have to revise my hourly wave count for Dow.

Following changes to my 10-month chart.

And changes to my 10-year chart. If the current correction for Dow is over and if Dow were to move  higher from its current level, it means only one thing, Dow's mega wave 7 has NINE WAVES instead of five.

The pullback from its previous wave (v)'s high of 26,616 is the wave (vi) and since April, Dow has been forming the wave (vii) of its mega wave 7.

FBMKLCI (1,763)

If Dow's correction is over and if Dow were to move higher from its current level, for KLCI to move in tandem with the Dow, the more bullish option for KLCI that I have mentioned on 22 July can be the one. It is also likely that mega wave (5) may have Nine Wave instead of five.

So keep the fingers crossed and see whether Dow will continue to move higher tomorrow for the breakout to a new bullish scenario.

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MRCB - A big A-B-C-D-E mega wave (2).

Malaysian Resources Corporation Bhd (Rm 0.78)

MRCB is forming a very big 3-3-3-3-3 waves A-B-C-D-E mega wave (2). It will take easily another 10 years to complete this mega wave (2).

The recent uptrend is the wave (iv) of its wave C. There will be another drop, the wave (v), to below 60 sens again to complete the wave C.

After that it will take another 5 years or more to complete its wave D. And another 5 years for its wave E.

From the 2-year chart, MRCB at this moment is forming the minor wave iii of its mini wave 3 of wave (iv).

There will be another wave (v) down to below 60 sens to complete the wave C.

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Inari and Insas - Heading for new highs?

Inari Amertron Bhd (Rm 2.44)

Inari is forming its major wave 9. It has completed its mini wave 1, 2, 3 and 4 and has started forming its mini wave 5. I am expected nine mini waves for its major wave 9 to provide enough time for Insas to complete its major wave 5 as well as its mega wave (5).

Insas Bhd (Rm 0.92)

If Insas can move above the 92 sens level and continues to move higher, it will have its five uptrend waves to confirm its major uptrend direction in its major wave 5 formation.

If the mega wave (5) can gain 200%, the same as mega wave (1), Rm 1.80 can be the target price. 

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Dow may be heading for another 8% drop

Dow (25,058)

Looking at the 60-minute interval chart, there is a strong possibility that Dow has completed its wave B and has started its 8% wave C pullback.

FBMKLCI (1,754)

KLCI is either forming the wave (ii) of its major wave 5 as I have mentioned previously.

Or it is at the tail-end of its mega wave (6) that I have mentioned many months ago. I reconsidered this scenario because of its current pattern that shows that the side way movement since July 2014 can be a typical longer duration with smaller magnitude mega wave (6) correction.

But for both the scenarios KLCI needs to move lower first before starting its next uptrend to scale new highs. Since Dow is expected to drop around 8%, I guess KLCI and other major world markets will have to move in tandem with Uncle Sam for a more or less 8% pullback. It is possible that KLCI may drop around 8% to about 1,600 level. That can be a good entry point for longer term investor. 

Black shoes

Just a reminder to parents that are in favour of black shoes for their schooling children because of 'less washing', 'more time to study' etc. etc. Please pay attention to the foot hygiene of your children.

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Maszlee

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Dow (25,199) - Very likely its wave B will end on Thursday.

With all the mini mini wave's extension, It appeared to me that Dow has stretched itself to the limit to complete its wave B.

This last wave C can have a maximum drop of 9.7% to 22,750 level unless it is a failure wave. Due to the strong upward momentum of major wave 9 it is possible for wave C to cut short its journey.

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EG Industries Bhd (Rm 0.535)

Is EG forming a big inverted 'Head and Shoulder' pattern ?

EG is either at the tail-end of its mega wave (2) or it has just completed its mega wave (2).

For inverted head and shoulder, possible price target after breaking the neckline is one length up with magnitude same as that from its bottom to the neckline. This is the minimum target.


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Weekly Update

Dow (25,019)

Dow has a slight extension to its wave B that can be seen from its 60-minute interval chart. If my wave count is correct, Dow will start to move lower very soon.

FBMKLCI (1,721)

To move in tandem with Dow's completion of its major wave 8, I expect KLCI to complete its wave (ii) during the same time, unless I am wrong in my wave count. Let's wait and see.

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Dow (24,700) - Wave B completed

Dow dropped 219 points (-0.88%) on Wednesday. Very likely it is going to drop to 22,750 level for another 7.9% drop to complete its major wave 8.

Hopefully major wave 9 can start before August.

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A beautiful country house

This is a beautiful country house sitting on a scenic site on sale by Savills Plc UK. If only I have that sort of money to throw around.

It is sitting on 2.9 acres of land. The built-up area is 4,067 sq. ft.

The price

The layout is quite ideal.

To view the house and its interior click 'Milton, Amulree, Dunkeld'.

You can find the location of this property from Google Earth.

It is about 32 km from Perth

And about 100 km north of Edinburgh

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Dow and FBMKLCI

Dow (24,456)

Dow continued with its wave B rebound. I am looking at 24,800 for B and 22,750 level for C to complete the current major wave 8 pullback.

Hopefully major wave 9 will be there with a projected target of 35,000.

In a long-term chart, the 14.5% major wave 8 correction appeared to be insignificant.

If the end of major wave 9 is also the end of super wave VII, the following super wave VIII correction can be very damaging. The pullback can be as high as 50%. Be very very careful because when Dow plunges, the whole world is going to plunge together with it.

FBMKLCI (1,663)

In order for KLCI to move in tandem with the Dow, I have developed a hypothesis that the current downtrend of KLCI can be the wave (ii) of major wave 5. But one important condition is KLCI cannot drop below the low of major wave 4 of 1,532 level recorded on 24 August 2015.

With this wave count, the current wave (ii) pullback will end when Dow finishes its major wave 8 and KLCI can have its uptrend of wave (iii), (iv) and (v) of its major wave 5 while Dow is forming its major wave 9.

From its current level of 1,663 to 1,532 the drop for KLCI is going to be 7.8%. This magnitude is quite comparable to that of Dow if it were to drop from my projected wave B level of 24,800 to my projected wave C low of 22,750. The drop is about 8.2%.

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Tabung Najib

Father In Malaysia

Son In Taiwan

Money? No Problem.

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