Inari and Insas - Heading for new highs?

Inari Amertron Bhd (Rm 2.44)

Inari is forming its major wave 9. It has completed its mini wave 1, 2, 3 and 4 and has started forming its mini wave 5. I am expected nine mini waves for its major wave 9 to provide enough time for Insas to complete its major wave 5 as well as its mega wave (5).

Insas Bhd (Rm 0.92)

If Insas can move above the 92 sens level and continues to move higher, it will have its five uptrend waves to confirm its major uptrend direction in its major wave 5 formation.

If the mega wave (5) can gain 200%, the same as mega wave (1), Rm 1.80 can be the target price. 

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Dow may be heading for another 8% drop

Dow (25,058)

Looking at the 60-minute interval chart, there is a strong possibility that Dow has completed its wave B and has started its 8% wave C pullback.

FBMKLCI (1,754)

KLCI is either forming the wave (ii) of its major wave 5 as I have mentioned previously.

Or it is at the tail-end of its mega wave (6) that I have mentioned many months ago. I reconsidered this scenario because of its current pattern that shows that the side way movement since July 2014 can be a typical longer duration with smaller magnitude mega wave (6) correction.

But for both the scenarios KLCI needs to move lower first before starting its next uptrend to scale new highs. Since Dow is expected to drop around 8%, I guess KLCI and other major world markets will have to move in tandem with Uncle Sam for a more or less 8% pullback. It is possible that KLCI may drop around 8% to about 1,600 level. That can be a good entry point for longer term investor. 

Black shoes

Just a reminder to parents that are in favour of black shoes for their schooling children because of 'less washing', 'more time to study' etc. etc. Please pay attention to the foot hygiene of your children.

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Maszlee

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Dow (25,199) - Very likely its wave B will end on Thursday.

With all the mini mini wave's extension, It appeared to me that Dow has stretched itself to the limit to complete its wave B.

This last wave C can have a maximum drop of 9.7% to 22,750 level unless it is a failure wave. Due to the strong upward momentum of major wave 9 it is possible for wave C to cut short its journey.

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EG Industries Bhd (Rm 0.535)

Is EG forming a big inverted 'Head and Shoulder' pattern ?

EG is either at the tail-end of its mega wave (2) or it has just completed its mega wave (2).

For inverted head and shoulder, possible price target after breaking the neckline is one length up with magnitude same as that from its bottom to the neckline. This is the minimum target.


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Weekly Update

Dow (25,019)

Dow has a slight extension to its wave B that can be seen from its 60-minute interval chart. If my wave count is correct, Dow will start to move lower very soon.

FBMKLCI (1,721)

To move in tandem with Dow's completion of its major wave 8, I expect KLCI to complete its wave (ii) during the same time, unless I am wrong in my wave count. Let's wait and see.

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Dow (24,700) - Wave B completed

Dow dropped 219 points (-0.88%) on Wednesday. Very likely it is going to drop to 22,750 level for another 7.9% drop to complete its major wave 8.

Hopefully major wave 9 can start before August.

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