Saturday, November 9, 2019

Dow - New record high

Dow (27,681)

Dow set an intraday high of 27,774 on Thursday. This is the third time since January 2018 (when Dow has completed its major wave 7), Dow has moved into new record territories. The previous two occasions were at point B when the new intraday high was 1.29% higher than that at point 7 before it plunged 16% ; and at point D when the intraday high was 1.66% higher than that at point B before the current side way consolidation. So far the new high of 27,774 is 1.37% higher than that at point D, there is still a possibility that it will go south to complete the wave iii of E unless it can move above 28,000 with a new high that is more than 2% higher than that at D.


If Dow is able to move higher than 28,000 and stayed above the upper trendline, I will have no choice but to accept the reality that Dow is on its major wave 9 since January 2019 despite the unexplainable fact that wave C has only 3 waves instead of 5.


But I believe many people will be very happy that Dow is on its major wave 9 heading towards 34,000 and beyond. Who know the mega wave VII might have more that nine major waves.



Insas Bhd (Rm0.885)

Insas confirmed that minor wave iii has started. From the weekly chart, it has formed the first candlestick of minor wave iii. Hopefully by end of December it can complete its sub-wave iii at around Rm1.06 or higher before the sub-wave iv correction.





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