It seems that our Malaysian share market is consolidating. The total overall volumes were very low. With this kind of situation, we might be seeing that the share market is not going to go up in these few weeks. We might be seeing some side way move.
Dow Jones Industrial Average still experiencing continuation falls from day to day. There seem to be lack of interesting news to push up the market. With this kind of situation, it is not a good time to build up our strategies as the DJIA still very weak.If we take a look on the charts, it is likely that the DJIA has more potential to go further south rather than north. Based on the chart, the DJIA should stay above 8,250 - 8,300 points in order to make sure that DJIA still have potential to go up after going through some correction lately.
But if we take a closer look on the chart, there is a possibility that the DJIA are going to perform HEAD and SHOULDER formation. This is a very bad sign if this formation does take place. We must be well alert if this kind of situation does happen because Head and Shoulder formation are very negative to the share market. If this thing really happens, then the situation for the world equities market will turn to very bad situation.
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