After one hour of trading Dow has dropped more than 600 points to 22,709. Hopefully this is only a major wave 8 correction and not a mega wave VIII (-50%) correction. Please refer to my previous posting.
And hopefully Dow is at the tail-end of its major wave 8. Hopefully Dow will stop at 21,400 level to form a 'double bottom' before starting its major wave 9.
Another possible form for the major wave 8 is as shown below.
Inari Amertron Bhd (Rm 1.27)
Inari dropped sharply by 20 sens or 2.26% today to continue with its wave A of (2) formation after punching through its 1.60 support level.
It formed its minor wave v of 7 today. Next rebound will be the mini wave 8. If its wave A has only 3 sub-waves, 1.20 can be the end of wave A. But if its wave A has 5 sub-waves, the end of wave A can be much lower than 1.20.
Insas Bhd (Rm 0.65)
Insas is currently at the wave 3 of C. It has wave 4 and 5 to go to complete the wave C of (4).
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