FBMKLCI (1,535)

KLCI has a 14 points rebound today to 1,535 level after closing at a low of 1,521 on Monday. Today's rebound can be the starting of sub-wave viii of wave (iii) of C.

Since April 2015, KLCI has been forming its mega wave (6). Hopefully it can be completed by first quarter of 2021, another 12 months or more to go, and it can then start to have its mega wave (7)'s bull-run.

For KLCI to start its mega wave (7) in 2021, the current correction for Dow has to be a major wave 10 correction of around 15% to 25,000 level and it cannot be the mega wave VIII correction of 50%.

This scenario is possible if the coronavirus outbreak can be contained within 6 to 9 months and all social and economic activity can be normalized by end of 2020.