Tuesday, March 24, 2009

World Equity Markets Going For Trend Reversal ?

Wow ....... I didn't expect the KL Composite Index acted so strong yesterday. The index went up +21.48 points to close at 878.30 point. I have to admit my mistake for under estimate the potential of the KL Composite Index and some of their counters.

Maybe I'm been too negative or just want to be very careful enough not to get hurt or burn or maybe because I just want to protect some of my gains made during the early month of January. So I didn't put lot of efforts to monitor them closely. I'm only a human being, mistakes do happen always.

UMNO general assembly starts today. More or less when there is an assembly, they will sure bring some movements to KL Composite Index but the movement never been so strong until yesterday. Yesterday movement caught me by surprised.

No doubt there were some indicators signal appear on my charts (call for accumulation), the confident level was not there even the share prices started yesterday with a bang. (Watch Resorts World Berhad - the share prices behave positively)

Dow Jones Industrial Average seems to be moving away from the previous low. If we checked and monitor most of the share prices movement in U.S and Hong Kong, their share prices movements are telling us that they are going for a trend reversal.

It means that there will be more upwards movement compare to the downwards move. Right at this moment we can't confirm yet but the signal is telling us that there are some changes happen in the world equity market. Whatever it is, we still need to beware of current financial crisis.

1 comment:

Blogger said...

eToro is the most recommended forex broker for novice and advanced traders.