All the sudden the KL Composite Index exploded this morning. It has been long overdue for the index to move down. As I have mention in my previous article dated back Tuesday, February 10, 2009. Beware Of The Bearish Rising Wedge ? . It seems that they have already started their engine.
My article again on Thursday, February 12, 2009 Bursa Malaysia Exchange. Stay Out For A While. Inside the article, I did make a calculation or a projection based on 1997 Asian Financial Crisis chart. The article that I wrote mentions that "According to the chart calculation and prediction, basically the down trend will only start in between end of February or early in the March. But we cannot assume that this thing will happen in the first place. It is just a prediction only".
If we want to make the calculation or the projection the way the KL Composite Index movement according to 1997 Asian Financial Crisis chart, then we will have a long journey in the month of March and April. It seems that with this afternoon session huge falls, it has confirmed that the duration of consolidation - 3 months have ended.
Today we can consider this is the first day of the downturn and we might be seeing more selling ahead but it won't be like Niagara Falls. It might be a roller-coaster movement. Be prepare for the WORST ............. Watch how the Dow Jones is going to perform tonight ???????
1 comment:
For this March, we may experienced a huge selloff in KLCI. This provided us a opportunity to invest for short to mid terms.
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