Dow Jones Industrial Average Still Weaks?

Can we trust that the FBM-KLCI still can move higher? This is something that most of us are wondering about. If we take a look on the overall sentiment in Malaysian share market, it seems that the Malaysian share market still lack of interest. From here we can see how the total overall volume done for this market. So I didn't expect a good performance from most of the counters in Malaysian share market.

Even after this Chinese New Year, our Malaysian share market sentiment still didn't pose any significant sign that we are heading for the north pole. No doubt the FBM-KLCI manage to crawl back above the 1,255 points level, still we cannot treat it that the FBM-KLCI is already out of danger.

Basically if we take a look on the world equities market performance, most of the indexes advance accordingly with the Dow Jones Industrial Average (DJIA). Right now the most important element that we need to analyst whether the DJIA still have more rooms to move forward?

Based on the chart, I would still prefer if the DJIA manage to break the 10,700 points level and this will confirm that the current bearish trend will cancel but if the DJIA still hanging around at this level, it would be advisable to watch only as the current trend still didn't show any promising sign. The 10,100 points still remains as the strong support for the DJIA.

However if the DJIA break the 10,100 points level, we would be facing some downtrend market ahead but if we manage to stay above this level then we are in the safer zone and we might have some small rotational play in our Malaysian share market before end of this February. March will be the month we need to watch because usually in the month of March, it will decide whether our current world equities market are moving towards to the north pole or the south pole?