Monday, 5 May 2008

KLCI short term Wave count


I believe that the KLCI is currently its Final Wave 5 rally towards the end of the year. The current count is that the index is in its Wave i of its final Wave 5. Where is the index within this Wave i? Here is a chart to show where the KLCI is right now and how I see it going in the coming week. We could see a rally back up to about 1,314-1,320 for Wave v in Wave 3. This count would be incorrect if the KLCI falls back to below 1,256 levels - the high of wave 3, i. (Source for the chart above: Bloomberg)

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