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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