Friday, August 21, 2009

FBM-KLCI Targeting 1,100 Points Level ?

One day up and another day go down. If the share market behave with this kind of situation, it is quite hard to look for a technical rebound. It seems that the market sentiment still dull with no volume to support the market movement. Volume build up is quite important in order to support the share market momentum.

Lately these few days the Dow Jones Industrial Average play a very important role in bringing up the share market sentiment but still it didn't help us a lot. With the current sentiment going up and down, it won't be easy to look for an opportunity to strike (buy at low). PATIENTS will be the key word for us in order to look for an opportunity at the downside.

I would rather wait and consider when the index reaches at around 1,100 points level where by this level would react as a strong supporting level. In order for a pure technical rebound to happen the share market must experiencing a huge sharp drop then only the share market can rebound perfectly.

Now the question is, can the FBM-KLCI going down to 1,100 points level ? If can but when ? If no where would be the next course for FBM-KLCI ? It all depends on how the world equities market performance.

Right now it seems that we are playing a cat and mouse game where by at the end, no one is winning but ending up we are losing our time and money. I'm not trying to be bearish but rather to stay at the sidelines as the sentiment right now didn't allow us to speculate more.