Saturday, October 12, 2019

Dow - Still on wave iii of E ?

Dow (26,816)

1 month after my last posting, my reading for Dow remained the same. It is of higher probability that Dow is forming the wave E of its major wave 8 at the moment.


By now, Dow has completed its wave ii but the ii is not high enough to form a perfect 'double-top' reversal pattern. Probability is high that wave iii of E is in progress. The 3-wave up in the last 7 trading days is likely to be the mini wave 1-2 of iii. If Dow starts to move lower next week, very likely mini wave 2 has ended and the mini wave 3 of iii has started.

However, if Dow can continue to move higher from its current level and can punch through its ceiling and continue to pull away, then I have no choice but to accept a scenario that I classified as unlikely that Dow is forming its major wave 9 since January 2019.


I considered the second scenario as unlikely because wave C has only 3 waves. To me, Dow is forming a perfect 3-3-3-3-3 expanding triangles.


FBMKLCI (1,556)

KLCI continues with its wave (iii) of C formation.


In the last one month CI has been forming the mini wave 3 of v of (iii). Next will be the mini wave 4 rebound before the mini wave 5's drop.


Insas Bhd (Rm 0.81)

Very likely Insas is on its major wave 3


It has completed its major wave 2 in January 2019. Since then It has formed its wave (i)-(ii) and sub-wave i-ii and mini wave 1-2.


Mini wave 2 is a 3-3-5 a-b-c. Hopefully Insas can start to form its mini wave 3 that can end above Rm0.90.


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