FBM-KLCI Create New High, Speculation Counters Cannot Perform?

Walah .... the FBM-KLCI hit new high. A high that most of us didn't anticipate that it would happen with the total overall turnover done just around 1 billion shares traded. Usually when a new high was in the making, most of the second and the third liners will move accordingly.

What we can see from here, it didn't happen in our Malaysian share market. The sentiment didn't show that we are in the Bull run. Frankly I really don't know why our share market behaves like this and I also don't like the way our Malaysian share market movement (pushing most of the blue chips up) because when our share market make a U-turn .... for sure we will have to bear some losses.

Currently we can see some inconsistent move by most of the speculation counters. There are no significant leaders that can emerge and guide most of the speculation counters to move higher. Looking at chart, most of the speculation counters are moving sideways. At these moments we just have to wait for miracle thing to happen.

Can The FBM-KLCI Continuing Their Uptrend Journey?

FBM-KLCI did something fantastic on last Friday trading. Based on the candlestick pattern the FBM-KLCI turn into a bit bullish. Yet ... in order for the FBM-KLCI to confirm their continuation uptrend, the index have to cross their previous high of 1,370 points.

Strong supporting level still stands at 1,348 points. A breach of this point will bring the share market to move further lower to find another support. Can the FBM-KLCI still manage to continue their journey?

One thing for sure, no doubt we are seeing some positive sign with the FBM-KLCI still have the ability to stay at high but not every counter is moving accordingly. Only certain sectors are moving and for those who really playing for speculation (no contra), they are the one who can really making some return.

With the Dow Jones Industrial Average went into a correction mode right now, we have to be careful whenever we want to choose good counters to play with. Hopefully the pullback from the DJIA was not that bad, maybe just a profit taking after recently huge run-up. The next supporting level for the DJIA now standing at 10,100 points.

FBM-KLCI Might Be Consolidate In Near Terms?

It has been a while if we really examine the share market movement, how many of us can really make some gains from the share market. Is not an easy share market to play with although we can see the FBM-KLCI still stand at high level. For those who really watch the movement everyday, they are the one who can really make some. Searching for the right counters still play an important element as we can see not every counter is moving.

As we can see this is not a bull run in the making. Looking at the FBM-KLCI right now, the index is now moving side way and if we take a closer look on the FBM-KLCI, the index show more negative sign. Sign of weakening because there were so many black candlesticks appear around these last few trading days.

In terms of Candlestick study, more blacker candlesticks appear shows that the share market maybe consolidate at these moments. How the share market likely to fare this coming week? From my point of view if we take a look on how the individual counter fares these few days, my suggestion would be stay out for a while because the momentum right now shows more weakening sign rather than showing more opportunity lying ahead.