Dow rebounded strongly in the last 4 trading day gaining 1,164 points or 4.69% to close at 25,983 level. This rebound is likely to be the wave ii of its wave E. The wave i has ended early and higher than what I have expected.
Under this circumstances wave iii is expected to have 5 sub-waves.
FBMKLCI (1,649)
If KLCI has completed its minor wave (ii), it expect it to move lower next week to form its wave (iii).
It is still a long way to the south for both the Dow and the KLCI, unless I am totally wrong in my current wave count. It is a fact as stated in the 'Elliott Wave Principle', corrective wave is more unpredictable in the sense that it can have many variations or forms.
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