With Wall Street closing higher on Friday, the markets around this region is expected to post more upside today. Dow closed 119pts higher while S&P500 jumped 16pts.
The KLCI would likely opened with a gap, possibly hitting the 1,300 level. Upside would be limited to the 1,332 level, its 0.618x of wave-a. As for the STI, it could rally to test 3,545, also its 0.618x of wave-a. This run would likely complete the corrective wave-B. Do note that, wave-B are usually a 'bull trap'. The whole market sentiment would likely be 'bullish' but the matter of fact is the smart money are unloading their stocks. We would wanna be on the 'smart' money's side. Hence, the strategy is still the same as last week's. Sell on strength.
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