Dow dropped continuously for five days from 26,026 to 25,450 for a 576 points drop (-2.2%). If Dow can start to move higher next week then the drop so far could be the mini wave 6.
But if Dow continues to move lower next week for a higher degree pullback, then the current correction can be the wave ii of its wave D.
During the next surge after the current pullback, the interesting question is whether Dow will stop at 27,000 level and will begin its steep 22% plunge to 21,000 level or it will punch through its ceiling and continue to move higher into record territories?
I wouldn't like to rule out this possibility but it will be hard for me to explain why wave C has only three waves instead of the normal five waves. Isn't Dow going for a classical 3-3-3-3-3 expanding triangles?
FBMKLCI (1,679)
KLCI is expected to move in tandem with the Dow. If Dow were to form its wave D and E, KLCI will follow with a wave iv and v to form its mega wave (6).
And If Dow can punch through its ceiling at 27,000 level and go higher, the wave count for KLCI will take the following form in forming the wave (iii) of its major wave 5 of its mega wave (5).
Inari Amertron Bhd (Rm 1.67)
Inari is expected to have a small wave c pullback to complete the wave ii of B.
Insas Bhd (Rm 0.78)
Insas is currently forming its wave ii. It can either be a straight down wave ii
or it can be a 'a-b-c' wave ii.
Pinehill Pacific Bhd (Rm 0.32)
After announcing its 8,999.13 acres of land sale to United Plantation Bhd for Rm 413,574,302.49 on 21 September 2018, Pinepac's stock price shot up from 14 sens to as high as 69 sens. Since then its price started to move side way forming a 3-3-3-3-3 a-b-c-d-e corrective wave ii. If Pinepac can either start to move up from here to form its wave iii
And of course it can also continue its side way consolidation with a 'X-a-b-c' or 'X-a-b-c-d-e'.
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