Dow Jones Industrial Average Heading For Correction?

Does Malaysian share market still have any more chances to move on? I'm quite doubt about it as our sentiment were fill with full rumours and news that the next 13th General Election is around the corner. Basically if we examine the way our share market move, we have little chances hoping for survival.

The share market seems to be losing its momentum with most of major speculation counters are taking nap. This scenario has been going on for few weeks and it seems that most of the speculator player or investors are waiting for the next general election to hold before building any new portfolio. At these moments staying out from the Malaysian share market would be a wise decision as there was no new lead or good news to lead the share market.

As for the Dow Jones Industrial Average, we must be well position at the moments as we can notice that the Dow has just started to show more sign of weakening. Based on the chart wise, we can see that the Dow has recently performed a Triple Top. No doubt the Triple Top wasn't a big one but definitely it is telling us that the index is going for correction. As long as the Dow didn't break the 12,700 points, the index still consider safe. If breaks then we have to start the ALARM.

However it is still early to determine whether the world equities markets have ended their move. We still need more time to determine where the world equities markets are heading to? But we must always be careful when the month of May is reaching. Usually the month of May was not a good month at all.

FBM-KLCI Weakening. Sentiment like "Dead Fish"

Looking at the FBM-KLCI chart: No doubt the index has penetrated and making new high still we cannot treat it as good news. If we watch closely and monitor the whole market momentum in the process - our market just like a Dead Fish lying in the wet market.

Obviously it is quite disappointed the way our share market behaves and looking at the turnover or the transaction done, it was way below the share market expectation. The index is moving higher but the turnovers are getting lower and lower. This not a good sign. It shows that the Malaysian share market have no strength to move on.

Couple with Candlestick indicator that appears yesterday, it was a bad sign when they appear on top. Current sentiment is telling us to stay at the sidelines or stay away from this share market. For the Dow Jones Industrial Average, it appears that the Dow is showing some sign of weakening but it is still early to tell. From chart wise, I will share with you all in my next posting.