In terms of TA in KLCI it continues to be bearish from the TA point of view.
Meaning that the KLCI is still in corrective mode.
In simple terms its going down to 950-1020 level for the medium term.
Remember that TA is only probability it can go anywhere she wants to.
So be prepare for other possibalities by using your other set of tools.
But in the short term that is now the internal indicators are suggesting that a technical
rebound is quite possible with PO of 1290-1300 levels. Where do I got this PO?
Simple , it’s the support that turn to resistence or in simpler word the bottom that form on late September 2007 that will resist the upward movement of this leg up.
To see the longterm perpective please look at monthly chart.
How do I get the PO of 950-1020 during this corrective mode.
It’s the basic of Elliott that I am guessing. Remember the top
of 1020 in the run up of Tech Stocks in early 2000.The Top there will form
a supporting line to prevent it futher down. That is wave 1. If Elliott rules to be true
wave 4 usually will not fall in to wave 1 area.
The previous top of 1500 which occur on Jan 08 is the wave 3 phenomena
Usually wave 3 is quite extended . It had shot up above the O/B area.
So now we are on a trechourous wave 4 with sideways movement that
could last quite sometime?
So who will benefit this type of scenario fit to ?
Its fit to days traders who could catch a falling knife and those that could
exit faster than speeding bullet. I salute them all.My hats are to them.
Elliott , as I say in earlier posting is quite confusing and I am very sorry for
confusing you more.
Above are only scenario that could happen but who are we who can predict the future
with a precision timing like a watch movement.
Me … a broken watch could also be right twice the time… that’s me…..
Meaning that the KLCI is still in corrective mode.
In simple terms its going down to 950-1020 level for the medium term.
Remember that TA is only probability it can go anywhere she wants to.
So be prepare for other possibalities by using your other set of tools.
But in the short term that is now the internal indicators are suggesting that a technical
rebound is quite possible with PO of 1290-1300 levels. Where do I got this PO?
Simple , it’s the support that turn to resistence or in simpler word the bottom that form on late September 2007 that will resist the upward movement of this leg up.
To see the longterm perpective please look at monthly chart.
How do I get the PO of 950-1020 during this corrective mode.
It’s the basic of Elliott that I am guessing. Remember the top
of 1020 in the run up of Tech Stocks in early 2000.The Top there will form
a supporting line to prevent it futher down. That is wave 1. If Elliott rules to be true
wave 4 usually will not fall in to wave 1 area.
The previous top of 1500 which occur on Jan 08 is the wave 3 phenomena
Usually wave 3 is quite extended . It had shot up above the O/B area.
So now we are on a trechourous wave 4 with sideways movement that
could last quite sometime?
So who will benefit this type of scenario fit to ?
Its fit to days traders who could catch a falling knife and those that could
exit faster than speeding bullet. I salute them all.My hats are to them.
Elliott , as I say in earlier posting is quite confusing and I am very sorry for
confusing you more.
Above are only scenario that could happen but who are we who can predict the future
with a precision timing like a watch movement.
Me … a broken watch could also be right twice the time… that’s me…..
