Daulat Tuanku

 

Dow (28,335)

If what Dow has formed in the last two weeks is a wave i-ii and if Dow can start to move higher next week, then this wave i-ii is very likely the sub-wave of (vii). A bullish formation and wave (vii) will likely to break Dow's previous record high and will begin another round of new record setting.

But even if Dow is going for a-b-c major wave 2 correction, the wave c of 2 is likely to end at a much higher level of 26,500 instead of the 24,971 level that I have mentioned previously because  the major wave 2 is a 'Flat a-b-c' formation.

As long as Dow stays below its previous record high of 29,568 the bearish super wave VIII option can not be ruled out yet unless the next major wave 3 can break the upper trend line and begin to set new record high. So the next major wave 3 run-up is very crucial.

FBMKLCI (1,494)

I still like to maintain my previous reading that KLCI has completed its wave (ii) in September and since then it has formed sub-wave i-ii and mini wave 1-2, hopefully with the issue of 'State of Emergency proposed by the PM' being objected by the Yang di-Pertuan Agong, the mini wave 3 can start to run next week.
 

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