wave c

has the KLCI entered into wave C of the Wave 4 which is a
downtrend.?
if there is any short term rebound may go to to
the 1300 level (nobody knows) just guessing
while on the downside, the final technical target is at
1050 but look at support 1200's (just guessing)

as of last week KLCI level 1265 as support do not hold then the easy path way is down .weekly lost 2.16% or 27pts

Fact to consider
klci below sma 30 and 50 at 1276/1265
both 30 wk sma anad 50 wk sma dn cut below 1240
wkly macd gave a buy signal but nobody cares

Over on Wall Street, the DJIA tumbled 428.51 points
or 3.39% last week following a 394.64-point plunge
last Friday. The average has now moved below its
crucial 5½-year trend line, currently at 12,400. As
long as the DJIA is below this trend line, it is negative
with breakdown channel formation of 10,100.again guessing

summary
is the party,long over for klci?
has KLCI entered into wave C of Wave 4 which is a downtrend.?
Any rebound is limited to the 1300 level while on the
downside, the final technical target is at 1050 with
immediate support levels at 1200.who cares?
this type of market belong to the master who is expert in catching the falling "keris"(my sifu king! can do this)

what the real PO? ,actually nobody knows except Mr market himself

KLCI Weekly Update

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…..

The Various School Of Thought In TA

Among others elliott wave is among the most followed disiplin in TA. To cut long story short in elliot wave consits of 3wave up and 2wave down.With various combination of wave structure make this disciple among the hardest but when you get it ur will be the finest analyst in town. For the sake of simplying things there various software meant for culculating the wave structure eg GET, Elliottician ,Elwave simple one PTA.Please understand that I am not selling anything here nor did I endose any of the sofware discribe. For elliotician disciple for KLSE the wave structure as illustrated on the graph. Thank you for Listening.

The chart is courtesy from JF Apex Securities Bhd