Dow (18,506)
Dow ended Thursday's trading session on new record high in anticipation of further policy easing.
Dow is forming the wave (iii) of its major wave (7). If the magnitude of wave (iii) is the same as that of wave (i), it may end around 19,500 level.
Looking at the long-term chart, Dow is currently forming the major wave (7) of its mega wave VII.
Will the Malaysian stock market, FBMKLCI index move in tandem with the Dow? I think it depends on whether the BN government is going for an early election and my bet is - Ah Jib Gor will dissolve the parliament before end of 2016. But before that he will try to push up the stock and property market and the ringgit.
Technically if KLCI can move up from its current level to form 5 mini up-trend wave (sub-wave (i)), it is likely to move in tandem with Dow.
