Thursday, June 11, 2009

KL COMPOSITE INDEX Still Stay Inside The Diagonal Triangle.

Bravo to the KL Composite Index. The index closed at 1,082.97, UP 11.18 points. No doubt the index is still creating new high but the index still stay inside the Diagonal Triangle Patterns. It means that even the KL Composite Index making a new high but the index is still not out from the danger zone yet.

At these moments the sentiments still look very good, a careful approach need to be implemented as the KL Composite Index is moving towards 1,100 barriers. Yesterday there were so many counter posted some handsome gains and some even posted darling gains.

The sentiment right now look very strong with no indication that the market is heading for correction in near terms or maybe there will be no correction at all? Maybe some profit taking. If we really take a look at the chart, the index is moving in a tight range. I really have no idea whether the share market still have enough strength to move on after they keep on pushing the index higher and higher.

Right now we must be well prepare and watch closely how the Dow Jones Industrial Average is going to perform in order to keep the world equity market going up or sustainable. If the Dow Jones breaks the 8,600 points then it would be a BYE-BYE for the world equity market.

When this article was posted the DJIA was down about -65 point at 8,698 points.

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