Monday, May 27, 2019
Sunday, May 26, 2019
Tracking wave E of Dow
Dow (25,585)
Dow continued with its wave E formation last week
The 30-Minute interval chart provided a better description of the wave movement. So far, Dow has completed the mini wave 1-2 of its wave E. Last week it proceeded to complete the small wave i-ii-iii-iv. Next week Dow is expected to form the small wave v to completed its minor wave (i) and to be followed by a minor wave (ii) rebound before the next minor wave (iii) drop.
As usual, when Dow is no good, the rest of the indices from Asia to Europe will not be good.
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Dow continued with its wave E formation last week
The 30-Minute interval chart provided a better description of the wave movement. So far, Dow has completed the mini wave 1-2 of its wave E. Last week it proceeded to complete the small wave i-ii-iii-iv. Next week Dow is expected to form the small wave v to completed its minor wave (i) and to be followed by a minor wave (ii) rebound before the next minor wave (iii) drop.
As usual, when Dow is no good, the rest of the indices from Asia to Europe will not be good.
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Sunday, May 19, 2019
Weekly Update
Dow (25,764)
Nothing much to talk about Dow as the wave E continues to unfold slowly unless there is a drastic change in its wave-form suggesting the possibility of an alternative wave count.
If I am talking about 21,000 level for its wave E to end, Dow has another 4,764 points or 18.5% to go before completing its major wave 8.
From the 30-minute interval chart, since the starting of May Dow has so far completed its mini wave 1. Very likely Dow has ended its mini wave 2 on last Thursday and mini wave 3 has started. It will be followed by mini wave vi and v and so on.
FBMKLCI (1,605)
KLCI has been continuing with the wave C of its mega wave (6) formation.
From the 5-year chart, a possible support is the 1,532 level as shown.
If we are talking about 1,532 level, there is only another 73 points or 4.5% to go before wave v of C and mega wave (6) will end. Is this possible? Only another 4.5% to go while Dow may drop another 18.5% before ending its wave E and its major wave 8?
I personally think that KLCI is more likely to follow Dow with a similar 18.5% drop. Another possible wave count is to take the December 2018 to February 2019 rebound as a lower degree mini wave 1-2 instead of my earlier count of wave iii-iv.
With this change the the target for mega wave (6) can be the 1,300 level, another 305 points or another 19% to go. This is more inline with the Dow's possible 18.5% drop.
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Nothing much to talk about Dow as the wave E continues to unfold slowly unless there is a drastic change in its wave-form suggesting the possibility of an alternative wave count.
If I am talking about 21,000 level for its wave E to end, Dow has another 4,764 points or 18.5% to go before completing its major wave 8.
From the 30-minute interval chart, since the starting of May Dow has so far completed its mini wave 1. Very likely Dow has ended its mini wave 2 on last Thursday and mini wave 3 has started. It will be followed by mini wave vi and v and so on.
FBMKLCI (1,605)
KLCI has been continuing with the wave C of its mega wave (6) formation.
From the 5-year chart, a possible support is the 1,532 level as shown.
If we are talking about 1,532 level, there is only another 73 points or 4.5% to go before wave v of C and mega wave (6) will end. Is this possible? Only another 4.5% to go while Dow may drop another 18.5% before ending its wave E and its major wave 8?
I personally think that KLCI is more likely to follow Dow with a similar 18.5% drop. Another possible wave count is to take the December 2018 to February 2019 rebound as a lower degree mini wave 1-2 instead of my earlier count of wave iii-iv.
With this change the the target for mega wave (6) can be the 1,300 level, another 305 points or another 19% to go. This is more inline with the Dow's possible 18.5% drop.
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Sunday, May 5, 2019
Dow (26,504) - Wave E started?
It appeared to me that Dow has finally ended its wave D with a failure wave iii based on the 30-minute interval, 2-month chart.
Dow completed its minor wave iii on Monday. It went up on Wednesday morning to complete its minor wave v, mini wave 5, wave iii and wave D before making a U-turn in the afternoon by dropping 259 points from its intra-day high of 26,689 with volume of 303 million for the day. Dow dropped another 122 points on Thursday with 287 million share traded. It rebounded on Friday, gaining 197 points but with a lower volume of 248 million, a typical mini wave 2 rebound's volume. Mini wave 3 volume is expected to shoot up again.
This is my personal interpretation and I can be wrong too. You are advised to read other guru's articles for their view on the markets.
When Dow started to plunge, I believe KLCI will plunge in tandem.
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Dow completed its minor wave iii on Monday. It went up on Wednesday morning to complete its minor wave v, mini wave 5, wave iii and wave D before making a U-turn in the afternoon by dropping 259 points from its intra-day high of 26,689 with volume of 303 million for the day. Dow dropped another 122 points on Thursday with 287 million share traded. It rebounded on Friday, gaining 197 points but with a lower volume of 248 million, a typical mini wave 2 rebound's volume. Mini wave 3 volume is expected to shoot up again.
This is my personal interpretation and I can be wrong too. You are advised to read other guru's articles for their view on the markets.
When Dow started to plunge, I believe KLCI will plunge in tandem.
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