INDEXDJX:.DJI : Dow Surged
Dow surged 421 points (+2.43%) on Thursday. It achieved the magnitude of mini wave i of b in two days instead of my expectation of 10 days or more. This b wave may even overshoot its wave (xiii)'s high of 17,958.
Both the European and US markets surged on news that the Swiss National Bank imposed a negative deposit rate of -0.25%. I thought deflation is no good for the economy, why the surged ? The explanation I can gather is that investors viewed the action of Swiss National Bank as a prelude to more QE programs from the European Central Bank. More fuel for the assets bubble. Roubini may be right in saying that the bubble will not burst for another two years.
KSL Holdings Bhd (Rm 1.90)
Has KSL completed its wave (iv) ? If c has only 5 waves then it should have, unless the current rebound is the mini wave 6.
If wave (v) has started, how high will it go ?
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