FBMKLCI ended yesterday with 7pts gain, propped up by petgas and tenaga in the last minute pre-closing trading.
Was the 7pts gain yesterday a legit one, or was it a faked move? No one knows and the answer shall be revealed on Monday, if FBMKLCI regurgitate all the gain on Monday, it means it was just another random spike/noise of market movement for FBMKLCI.
However, meanwhile, I believe we are at an interesting juncture. If the last minute upmove we saw yesterday was not denied on Monday, then the wavecount of my chart will be valid.
To recap, the current rally started on mid of Dec 2017 and so far has established 4 waves movements to the upside.
As shown on the right of the chart, I believe FBMKLCI have finally completed the 3 wave (W-X-Y) sideway correction, which was initiated on 9th of Jan.
The W-wave was executed as a Zig-Zag, X-wave as inverted zig zag, and Y-wave as contracting triangle.
As i mentioned above, if the last minute upmove we witnessed yesterday on FBMKLCI was legit, then the wave count for the Wave 4 should be complete and it means the sideway correction has ended.
If you at least knows anything basic about ElliottWave, you should know that main wave (in this case an uptrend) comes in 5 waves.
So what does this mean to our market? It means we still have one more upwave (Wave 5) to go before we hit a temporary peak, so FBMKLCI will continue to rally higher to the upside to complete the 5-wave movement.
It wouldn't surprise me if FBMKLCI were to retest previous historical high of 1896.23 before CNY, but don't get me wrong here, I'm not saying that preivous high will be the temporary peak for the uptrend which started on mid of Dec 2017, only God/Allah/Buddha/ etc know what will it be.
After the temporary peak of wave 5 is completed, those who were late on buying will be disappointed as the market may correct for a while before resuming a larger degree uptrend. Then this will be the completion of entree/appetizer/ engine warm up which I have been talking about since Dec last year.
Okay if you are clueless about what I'm saying, I hereby summarize everything here:
1. FBMKLCI likely to continue the rally next week onward, this is the last wave up before we hit a temporary peak.
2. Temporary peak means market may correct a while before resuming the rally.
3. The upmove begining next week, don't miss it, you still can make money, but if you are late you may be disappointed a while (CF point 2), you may get stucked for a while, but this is not the end of 2018 superbull, it will be a brief pause.
4. I'm speculating that FBMKLCI will retest historical high before CNY. (disclaimer applies lah okay?)
5. All time high is almost certainty.
K thx bye.
Here are the highlights of my previous write ups for your perusal:
Reverse Technical Analysis: FBMKLCI throwing smoke bomb to induce maximum fear.
(Jan 18, 2018)
FBMKLCI engine is still warming up, more bullish rally to come
(Jan 13, 2018)
FBMKLCI one piece of puzzle left before confirming 2018 bull market
(Dec 30, 2017)
FBMKLCI quietly embarking a strong uptrend!
(Dec 27, 2017)
FBMKLCI rally was just an appetizer
(Dec 21, 2017)
FBMKLCI staging comeback boat, profit taking overdone.
(Dec 19, 2017)
FBMKLCI early sign of bullish uptrend.
(Dec 13, 2017)
Triple reasons why FBMKLCI will be very very bullish.
(Dec 09, 2017)
http://klse.i3investor.com/blogs/Tech_Watch/144888.jsp
Was the 7pts gain yesterday a legit one, or was it a faked move? No one knows and the answer shall be revealed on Monday, if FBMKLCI regurgitate all the gain on Monday, it means it was just another random spike/noise of market movement for FBMKLCI.
However, meanwhile, I believe we are at an interesting juncture. If the last minute upmove we saw yesterday was not denied on Monday, then the wavecount of my chart will be valid.
To recap, the current rally started on mid of Dec 2017 and so far has established 4 waves movements to the upside.
As shown on the right of the chart, I believe FBMKLCI have finally completed the 3 wave (W-X-Y) sideway correction, which was initiated on 9th of Jan.
The W-wave was executed as a Zig-Zag, X-wave as inverted zig zag, and Y-wave as contracting triangle.
As i mentioned above, if the last minute upmove we witnessed yesterday on FBMKLCI was legit, then the wave count for the Wave 4 should be complete and it means the sideway correction has ended.
If you at least knows anything basic about ElliottWave, you should know that main wave (in this case an uptrend) comes in 5 waves.
So what does this mean to our market? It means we still have one more upwave (Wave 5) to go before we hit a temporary peak, so FBMKLCI will continue to rally higher to the upside to complete the 5-wave movement.
It wouldn't surprise me if FBMKLCI were to retest previous historical high of 1896.23 before CNY, but don't get me wrong here, I'm not saying that preivous high will be the temporary peak for the uptrend which started on mid of Dec 2017, only God/Allah/Buddha/ etc know what will it be.
After the temporary peak of wave 5 is completed, those who were late on buying will be disappointed as the market may correct for a while before resuming a larger degree uptrend. Then this will be the completion of entree/appetizer/ engine warm up which I have been talking about since Dec last year.
Okay if you are clueless about what I'm saying, I hereby summarize everything here:
1. FBMKLCI likely to continue the rally next week onward, this is the last wave up before we hit a temporary peak.
2. Temporary peak means market may correct a while before resuming the rally.
3. The upmove begining next week, don't miss it, you still can make money, but if you are late you may be disappointed a while (CF point 2), you may get stucked for a while, but this is not the end of 2018 superbull, it will be a brief pause.
4. I'm speculating that FBMKLCI will retest historical high before CNY. (disclaimer applies lah okay?)
5. All time high is almost certainty.
K thx bye.
Here are the highlights of my previous write ups for your perusal:
Reverse Technical Analysis: FBMKLCI throwing smoke bomb to induce maximum fear.
(Jan 18, 2018)
FBMKLCI engine is still warming up, more bullish rally to come
(Jan 13, 2018)
FBMKLCI one piece of puzzle left before confirming 2018 bull market
(Dec 30, 2017)
FBMKLCI quietly embarking a strong uptrend!
(Dec 27, 2017)
FBMKLCI rally was just an appetizer
(Dec 21, 2017)
FBMKLCI staging comeback boat, profit taking overdone.
(Dec 19, 2017)
FBMKLCI early sign of bullish uptrend.
(Dec 13, 2017)
Triple reasons why FBMKLCI will be very very bullish.
(Dec 09, 2017)
