Dow Jones continued where it left off on Friday after the Labour celebrations. Dow closed 91pts higher while S&P500 added 15pts. So, this would be another kicker for both the indices today.
As I mentioned on Monday, this week could be an 'up' week. However, the upside would likely be capped. For KLCI, I am looking at about 1,332 as the cap. On the other side of the border, the STI would likely be capped around the 3,545 level. I am a believer that there is going to be another wave-C down. This wave-C has potential to be as bad as 1987. It may still be best to unload on rallies.
Note: It is starting to 'feel' bullish again. There are many 'positive' reports coming out of the main street. Signs of a bull trap (wave-B)? I believe so.
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