After several days of monitoring the share market movement, it is likely that the current trend for the KL Composite Index has ended. I don’t know whether my outlook would be right or wrong but based on the movement and some of the indicators, the share market show more negative sign.
I don’t like to be negative but after I have monitoring the whole situation, including some of the indicators, overseas equity financial market closing couple with our recently strong surge. We need to be extra careful because something telling us that the share market has reached its tops.
I have been wondering this few days, why our share market have the ability to move so strongly and the share market can’t even go down and make some correction. After several analyses have been made, I trying to compare the current movement with last year strong surge in KL Composite Index during the early month of November 2008. During that time the world financial market rebounded after their huge selling.
I still can remember when our share market rebound in the tandem with the world financial market, our market move so strongly until we hardly could believe. During that time we can’t even know when the share market is going to end its uptrend. It is so strong that most of the share prices recorded double digit gains in few days only.
One of the indicators, the Japanese Candlestick again shows another bad sign. This time the indicators show a “Shooting Star”. As usual this indicators needs to be confirm by tomorrow KL Composite Index movement. If the index close higher, then there would be another different storey but if the index closes lower, then the current uptrend will pause or stop for a while.
One more thing we need to remember that, Dow Jones Industrial Average still play an important role to determine the current world financial performance. If the DJIA still show more sign of advancing, it is quite hard to determine whether there would be any correction in the first place.
I don’t like to be negative but after I have monitoring the whole situation, including some of the indicators, overseas equity financial market closing couple with our recently strong surge. We need to be extra careful because something telling us that the share market has reached its tops.
I have been wondering this few days, why our share market have the ability to move so strongly and the share market can’t even go down and make some correction. After several analyses have been made, I trying to compare the current movement with last year strong surge in KL Composite Index during the early month of November 2008. During that time the world financial market rebounded after their huge selling.I still can remember when our share market rebound in the tandem with the world financial market, our market move so strongly until we hardly could believe. During that time we can’t even know when the share market is going to end its uptrend. It is so strong that most of the share prices recorded double digit gains in few days only.
One of the indicators, the Japanese Candlestick again shows another bad sign. This time the indicators show a “Shooting Star”. As usual this indicators needs to be confirm by tomorrow KL Composite Index movement. If the index close higher, then there would be another different storey but if the index closes lower, then the current uptrend will pause or stop for a while.
One more thing we need to remember that, Dow Jones Industrial Average still play an important role to determine the current world financial performance. If the DJIA still show more sign of advancing, it is quite hard to determine whether there would be any correction in the first place.
* Today Short or Sell : 1 contract of futures (FKLI) at 968.50 points *
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