In terms of TA on KLCI it continues to be bearish from the TA point of view.
Meaning that the KLCI is still in corrective mode.Thats the Big picture.
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.
Now ....But in the short term that is now the TA 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 resistence or bottom that form on late September 2007.
To see the longterm perpective please look at monthly chart.
How do I get the target 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.
What now ......we are now on a trechourous wave 4 with sideways movement that
could last quite sometime months may be?
So what will the scenario fit to ?
Its fit to days traders who could catch a falling knife and those that could
exit faster than speeding bullet.
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.Thats the Big picture.
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.
Now ....But in the short term that is now the TA 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 resistence or bottom that form on late September 2007.
To see the longterm perpective please look at monthly chart.
How do I get the target 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.
What now ......we are now on a trechourous wave 4 with sideways movement that
could last quite sometime months may be?
So what will the scenario fit to ?
Its fit to days traders who could catch a falling knife and those that could
exit faster than speeding bullet.
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…..
