Beautiful

Courtesy of National Geographic.

You are so beautiful.

FBMKLCI - Another 1% drop on Monday

FBMKLCI (1,616)

KLCI has another sharp drop (-1%) on Monday.

CI might have broken its lower trend-line but technically I still cannot rule out the possibility that It is forming the wave e of its wave (ii). This is because in an a-b-c-d-e corrective wave, wave e can be quite erratic, it can 'fall-short' and it can also 'over-shoot'. With this sharp drop, we have an over shot wave e. Hopefully wave e can hold above 1600 level.

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Trump's Victory - A Topsy Turvy Week for Asian Currency and stock markets

 Donald J. Trump

The focus will be on Trump's pro-growth and inflationary economic policies. Federal Reserve will be forced to raise the funds rate at a faster pace and that will push the dollar up. And that in turn may lead to huge capital outflow from Asia Pacific.

By Friday most Asian currencies were lower against the US$. Japanese Yen dropped 5.3% from Wednesday's 101.29 Yen to a dollar to Friday's 106.68 Yen to a dollar. Korean Won was 1.6% lower, Indonesian Rupiah plunged more than 5%, Australian $ was down 2% and Malaysian Ringgit also lost about 2%.

Crude Oil WTI (US$ 43.13)

Crude oil is currently having its wave (iv) rebound. Wave b of (iv) is expected to be completed before end of 2016.

Dow (18,847)

Dow recorded another new historical high on Friday. If the magnitude of wave (v) is the same as that of wave (iii), Dow may end its wave (v) around 19,340.

FBMKLCI (1,634)

If KLCI has already completed its major wave 4 and is currently forming the wave (ii) of its major wave 5, its wave (ii) is about to end around 1,630 level

However if KLCI continues to move lower next week due to week Ringgit and foreign capital outflow, then it is more likely that KLCI has yet to complete its major wave 4 and it may be heading for 1,500 level to completed the wave e of 4.

Insas Bhd (Rm 0.68)

My reading for Insas is as shown. It has completed its mega wave (1)-(2)-(3)-(4). It also has completed the major wave 1-2 of its mega wave (5). Currently it is forming the wave (ii) of its major wave 3.

I hope I am right.

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FBMKLCI, EG and RCECap

FBMKLCI (1,652)

KLCI continues to consolidate. It is either trying to complete its major wave 4.

Or it has already completed its major wave 4 and is forming the wave (ii) of its major wave 5. Wave e of (ii) is about to complete.

EG Industries Bhd (Rm 0.84)

There is a possibility that EG has completed its major wave 4

It is also likely that it has completed the sub-wave i-ii of its wave (i) of 5. I hope today's 2 sens gain marked the starting of its sub-wave iii.

RCE Capital Bhd (Rm 1.44)

RCECap continues with the wave (iii) of its major wave 5.

It added 9 sens today to close at Rm 1.44 to form its mini wave 3.

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It's Simply Madness

From

To

Dow futures plunged an intra-day maximum of 955 points to 17,421 when it started to appear that Donald Trump was going to win the Presidential Election. And almost all the Asian markets plunged in tandem.

But when Trump has finally won the presidency, Dow ended Wednesday's trading with a gain of 256 points at 18,589. From its (Dow futures) intra-day low of 17,421 the gain is 1167 points. This is madness.

But if we go by the wave count on a daily chart, everything appeared to be in order and is well behaved.

Dow is forming its wave (v) and it continues. Hopefully Dow can reach 20,000.

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Dow - Is this the starting of wave (v) ?

Dow moved up strongly on Monday and closed with a gain of 371 points (+2.08%) at 18,259.

Is this the starting of its wave (v)?

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Weekly update

Dow (17,888)

If Dow can hold around its current level, it remained possible that the current consolidation is the wave (iv).

 

However, if Dow continues to move lower next week, then it becomes more likely that Dow has completed its mega wave 1 in early 2015 and the current down trend is the wave C of its mega wave 2.

FBMKLCI (1,648)

I am not sure whether KLCI is forming its major wave 4

Or it has completed its major wave 4 in 2015 and it has been forming its a-b-c-d-e wave (ii) since October 2015.

 

Felda Global Ventures Holding Bhd (Rm 1.93)

FGV is either going for a seven wave sub-wave ii

Or 5-3-5 a-b-c sub-wave ii.

EG Industries Bhd (Rm 0.84)

It appeared to me that EG has completed its major wave 4 in October at 82 sens. As long as EG can hold above 82 sens it is possible that it has started its major wave 5.

Insas Bhd (Rm 0.71)

Insas is about to complete its sub-wave ii.

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