Dow dropped another 83 points (-0.46%) at the end of Monday trading, on course to form its major wave (6).
So far Dow has dropped about 3% from its peak of 18,312. There is another 9% to go.
If I am expecting Dow to go to 16100 level, whatever FBMKLCI is forming, it won't be good in the near future especially with the 1MDB fiasco unfolding and the power struggle in UMNO.
But FBMKLCI is bullish in longer term until early 2017, that is what I have been thinking.
As mentioned in my previous post, the current pullback for KLCI is its wave (ii) correction and it is very likely to go for 100% retracement of its wave (i).
