Dow (27,219) - Another step closer to unveil its major direction.

Dow continued to move higher over the week and added another 422 points (+1.57%) within the last 5 trading days.

My reading for Dow remained the same as what I have written in the previous week.

Dow is either on its wave ii of E in its 3-3-3-3-3, A-B-C-D-E major wave 8 formation with another 130 points to go to form a double-top reversal pattern.

OR Dow has already completed its major wave 8 in December 2018 and it has been forming its major wave 9 since January 2019. To confirm this option, Dow will need to punch through the upper trend line and continue to pull away from the upper trend line. Then it is on its mini wave 3 of its wave iii of its major wave 9. As I have questioned before, why there are only 3 sub-waves instead of 5 for wave C.

But if Dow can really punch through its ceiling and heading for 30,000 and above, I have no choice but to accept that the wave C is a failure wave with wave iv and v missing.

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Insas - Slowly unfold

Insas (Rm0.835)

Insas added 5 sens last Friday with a moderate volume of 1.4 million shares traded. Very slowly it has reached the sub-wave iii of wave (iii) of its major wave 3. In theory it should move with a faster pace and with a higher volume until end of 2020.

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Dow - Can't rule out the option 2

Dow (26,797)

The option 1 for Dow is still the 3-3-3-3-3, A-B-C-D-E major wave 8 formation that I have been mentioning for quite a while.

But when Dow refused to move lower in the last two weeks along my projected path, I began to question my much earlier decision to rule out the second option that major wave 8 is a simple A-B-C and it has already ended in December 2018 and since early 2019 the major wave 9 has already started.

The only 'BUT' is - if it is indeed a simple A-B-C major wave 8, it must have 5 sub-waves for its wave C for a 3-3-5 formation, 'BUT' the wave C has only 3 sub-waves i-ii-iii.

However, whether I like it or not, if Dow can continue to move higher and can punch through its upper trend line and can go beyond 28,000, Dow is for sure, forming its major wave 9 that may end before end of 2020 or during first quarter of 2021.

So, the main question is whether Dow can punch through its upper trend line. Option 1 or option 2?

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