Posted by PlsGiveBonus > 2015-12-14 19:01 | Report Abuse

From: CH Lee <chartist2618@gmail.com> Date: 12/12/2015 01:32PM Subject: Shades of 1997 AFC looming (Sorry typo mistake earlier) Hi all, With DJIA's 309-point last night, focus will be on Asia falling yet again on Monday. What I noticed with the KLCI on Friday was this:- The 50 and 200 daily SMA already had a dead cross since a long time ago. But now the 50 and 200 weekly SMA had just issued a dead cross on Friday at 1,733 (well above the close of 1,640). This means that the rise from 801 (2008) to 1,896 (2014) is a EW Flat rise completed with massive bearish divergence. Also, the thrust down from 1,867 to 1,503 is 1.62-times the 1,896 fall to 1,671. The rebound to 1,867 was 62% of the 1,867 to 1,503 move. I am looking at downside targets of 1,503, 1,448, 1,334 and even as low as 1,185 for 2016. Lighten up on stocks and short futures on rallies. Stay afloat. Have a happy weekend and don't get too depressed over my bearish view. Cheng Hooi.