Friday, January 23, 2009

Post CNY Rally. Will There Be Any Rally ?

Will there be a rally after Chinese New Year ? Through out my experience for the past few years, seldom we face on the last day of trading before Chinese New Year arrive, the KL Composite Index register a huge drop in index.

I still can remember each year before Chinese New Year the share market will act quietly with most of the share prices hovering around at their level.

Every year before Chinese New Year I will buy some of the share to keep it for post Chinese New Year rally but this year I feel that it will not going to be this way.

Usually most of the time after we celebrated Chinese New Year the share market will move slowly and close with a gain. It usually maintain about one to two weeks only.

This year I don't have this kind of confident whether our share market will behave like what it use to be ? The sentiments out there still fragile and anything can happen within second. Talking about the confident level that I have right now is still very low compare to previous few Chinese New Year.

Base on the charts and indicators the KL Composite Index still have a little big hope if the current 860 points didn't break at all as this level stand as a support line for the KL Composite Index to move in a consolidation way but the index must close and move higher each day.

3 comments:

CP said...

Happy Chinese New Year, Jackie.

I do not think so there will be any post-CNY rally too.

Gong Xi, Gong Xi.

TEH

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alexlee said...

I feel that market setiment is not that bad in these one week. So post CNY rally is still positive hope. Technically, KLCI have to hold above 865 points in order to have a positive outlook in coming weeks. Futhermore, DJ index is hold on above 8000 points.