Dow moved above 18,000 and Crude Oil (WTI) closed higher than US$ 50.00 a barrel.
As I have mentioned previously, by mid 2017 I expect Dow to be above 20,000 in its major wave (7) movement.
And Crude Oil (WTI) to reach US$ 80.00 in its major wave 4 rebound.
Will KLCI move in tandem with Dow and Crude Oil price and has its major wave 5 run-up until mid 2017 ?
I am not very sure. Frankly speaking, at this moment I am monitoring for a possible 'failure major wave 5' as shown below.
Why? 1MDB loh. Weak Ringgit loh. Net out-flow of foreign investment loh. What else ?
When you have news like this:
and headline like this:
Click 'WSJ' to read.
I just wonder whether KLCI can have its major wave 5 run-up until mid-2017.
If KLCI can continue to move higher, that is very good.
But if today's 7.34 points drop marked the end of sub-wave ii,
and if KLCI continues to move lower from here and goes below 1620 and 1600 levels, be careful, be very careful, both major wave 5 and mega wave (5) might have ended.
The next down can be the dynamic wave (iii) of super wave (II).