Technical Commentary 31/5/10

FBMKLCI continues to rebound for 2nd day firmly to close at 1285.01 (+15.85, +1.25%). It is still considered as technical rebound and it was resisted by 1287 FIBO level at this moment but stay firmly above 200 days moving average. However the overall market’s trend is considers as mixed as there are 364 up counters and 306 down counters with the market total traded volume decreased by 12% to 760 MIL shares. The market volume is below 40 days volume moving average today.

Today’s FBMKLCI top 5 gainers components are PLUS, GENM, HLFG, IOICORP and YTL. The top 3 lagging components (only 3 losers today) are SIME, MMCCORP and MAXIS.

FBMKLCI Technical Indicators
The INDEX stays below the Mid-Band with the Bollinger band contracted another 10%; this indicates FBMKLCI is having a technical rebound from the falling trend and now it is moving to neutral zone.

RSI increases slightly to 33.83; this indicates FBMKLCI getting out of bearish zone but has not turn bullish yet.

STC %K increased to 44.04 and the %D increased to 17.95, this indicates FBMKLCI getting out of bearish zone but has not turn bullish yet.

The MACD line started to hook up (below ZERO level) and the histogram was started to form a rounding bottom, this indicates FBMKLCI is rebounding.

Summary
All the indicators indicate FBMKLCI is getting out from the bearish zone temporary however it has not turn bullish yet unless it stays above the BBMB with the STC breaks above 70.

The nearest possible resistance levels for FBMKLCI are 1287/BBMB/1290 and 1302. The nearest possible support levels are 1272, 1254 and 1224. Please click on the chart below for better understanding.

Derivatives Products traded on Bursa Malaysia Exchanges

Derivatives are financial instruments used to manage one's exposure to today's volatile markets. A derivative product's value depends upon and is derived from an underlying instrument, such as commodity prices, interest rates, indices, and share prices.

Futures and options are essentially elementary derivative products mostly traded on exchanges. A futures contract is an agreement between two parties to buy or sell the underlying instrument at a specific time in the future for a specific price determined today.

The most popular derivative products are FBMKLCI futures or FKLI and Crude Palm Oil Futures or FCPO. At this moment we are only interested on FKLI and may be FCPO but we are not going to talk about the options. Below is the list of futures and options products traded on Bursa Malaysia Exchanges.

Equity Derivatives
FTSE Bursa Malaysia KLCI Futures (FKLI)
FTSE Bursa Malaysia KLCI Options (OKLI)
Single Stock Futures (SSFs)

Commodity Derivatives
Crude Palm Oil Futures (FCPO)
USD Crude Palm Oil Futures (FUPO)
Crude Palm Kernel Oil Futures (FPKO)

Financial Derivatives
3 Month Kuala Lumpur Interbank Offered Rate Futures (FKB3)
3-Year Malaysian Government Securities Futures (FMG3)
5-Year Malaysian Government Securities Futures (FMG5)
10-Year Malaysian Government Securities Futures (FMGA)

What is eDividend?

eDividend is a service which allows an issuer to electronically pay your cash dividend entitlements directly into your bank account instead of making payment via bank cheques.

One of the main objectives of implementing eDividend is to promote greater efficiency of the payment system which is aligned to the national agenda of migrating to electronic payment.

Register with your stockbroker from 19 April 2010.

For details, please click this link http://www.bursamalaysia.com/website/bm/trading/edividend.html

Short commentary on FKLI

FKLI was having a strong rebound on Thursday 27/5/10. It broke out the 200 days MA long-term resistance and closed at 1279 (up 26 points). The nearest resistance is 1286 and 1301. The next resistance is the 100 days MA at about 1303 level. The nearest support is the 200 days MA at about 1268 and 1250. The STC and RSI have break out 30% and the rebound seem to continue on next Monday. With DJI up 284 points, most likely the rebound will continue however it is also resisted by Bollinger-Mid-Band at about 1286 on Monday. Will it turn around at 1286, 1292 or 1301?

You can maintain short if you short above 1300 level but set a buy stop at 1303 to 1305 GTC. However if you are still holding a short position below 1300, you are advice to buy back and stay sideline. Do not turn long at this moment.

Technical Commentary 27/5/10

Today FBMKLCI rebounded strongly on technical after it had been falling for 9 trading days. It closed slightly above the 200 days MA at 1269.16 (+20.22, +1.62%). It is still considered as technical rebound and it was resisted by 1272.33 FIBO at this moment.

There are 635 up counters and 142 down counters with the market total traded volume decreased by -7% to 864 MIL shares. It is slightly below 40 days volume moving average today.

Today’s FBMKLCI top 5 gainers components are MMCCORP, GENM, HLFG, SIME and BAT. The top 4 lagging components are PLUS, YTLPOWR, BJTOTO and UMW.

FBMKLCI Technical Indicators
The INDEX stays below the Mid-Band with the Bollinger band contracted -2%; this indicates FBMKLCI did not extend the falling trend but it is still considered in bearish zone although it rebounded strongly today.

RSI increases slightly to 26.47; this indicates FBMKLCI still in bearish zone although it rebounded technically.

STC %K increased to 25.98 and the %D increased to 10.14, this indicates FBMKLCI still in bearish zone although it rebounded technically.

The MACD line started to hook sideway below the ZERO level and the histogram was hooked up a bit, this indicates FBMKLCI is stop falling today.

Summary
All the indicators indicate FBMKLCI still not get out from the bearish zone yet although it rebounded strongly today. It had broken out the 200 days MA however it is just slightly above it and yet to be confirmed.

The nearest possible resistance levels for FBMKLCI are 1272, 1290 and 1302. The nearest possible support levels are 200 days MA, 1254 and 1224. Please click on the chart below for better understanding.

Technical rebound on FBMKLCI

FBMKLCI broke out 1254 this morning
The next target is 200 days MA about 1268 and then 1272
Please check our technical commentary tonight
We are not rushing in yet, we are looking for further rebound at 1292 and even 1301 to fill the gap. It will take a few more days to monitor.

Human nature is full of Greed and Fear. The emotion of human was reflected on the movement of the stocks' prices.

Technical Commentary 26/5/10

Technically the market had rebounded today especially in the morning session. Asian market typically rebounded from 1% to 7% (Jakarta) except FBMKLCI was dragging down by PPB (-4%), GENM (-5.6%), YTL and MISC to close negative at 1248.94 (-1.19, -0.1%). FBMKLCI still resisted by 1254 resistance level and the 200 days SMA.
With Europe's market rebounded from 2% to 3% and Dow futures up 65 points (at 5:30 AM), the global markets could have short term rebound as well. We are looking for rebound at major resistances like 200 days MA, 1272, 1292 and 1300. Any set back at these resistances is an opportunity to short the Futures.

There are 426 up counters and 320 down counters with the market total traded volume decreased by -1.2% to 929 MIL shares. It is above 40 days volume moving average today.

Today’s FBMKLCI top 5 gainers components are GENTING, AXIATA, TM, MMCCORP and MAXIS. The top 5 lagging components are GENM, PPB, YTL, MISC and HLFG.

FBMKLCI Technical Indicators
The INDEX stays below the Mid-Band with the Ballinger band expanded another 13%; this indicates FBMKLCI still bearish.

RSI increases slightly to 12.88; this indicates FBMKLCI is bearish.

STC %K decreased to 1.58 and the %D decreased to 5.26, this indicates FBMKLCI is bearish but it also indicates FBMKLCI is oversold for short term.

The MACD line continues to hook down below ZERO level, this indicates FBMKLCI is bearish.

Summary

All the indicators indicate FBMKLCI is bearish however STC and RSI also indicate FBMKLCI is oversold. FBMKLCI was up in the morning today however it was resisted by 1254 resistance level and the 200 days MA at about 1267.

The nearest possible resistance levels for FBMKLCI are 1254, 1267 and 1272. The nearest possible support levels are 1233, 1224 and 1200. Please click on the chart below for better understanding.

Any rebound is an opportunity to sell, don't try to catch a falling knife

After the market was selling off for 8 sessions, finally it rebounded technically today. I use the word “technically” because the market is oversold and naturally there must be a rebound. I received a few calls today; Vincent, can I buy now? My answer still “No”. Ask yourself before you consider to buy at the bear market; can the rebound last longer? Can the rebound break through the major resistances? Is the market going to reverse (by looking at the chart)? Is the sentiment turn bullish, if yes, what are the factors to make the market turn bullish? Do I have a cut loss plan and so on? At this moment, there is a lot of negative news surrounding us. I advice you to sit sideline first and we don’t mind to wait for the market to turn around and buy at a higher price. If you still have stocks on hand, any rebound is an opportunity to cash out.


Don't try to catch a falling knife in the falling market. In the last few sessions, our market was falling like a knife. A fundamentally cheap buy can still go cheaper due to deteriorating market sentiment. We advise against buying downwards and we prefer to see the market to turn around (hitting a bottom) and start to show some confidence from buyers. So, please visit this blog regularly to check the market status.

Warning: Crash dead ahead. Sell. Get liquid. Now???

The following information is quoted from Market Watch by Paul B. Farrell May 25, 2010, 12:01 a.m. EDT :

"Quote"

Warning: Crash dead ahead. Sell. Get liquid. Now.
Commentary: 'Game's in the refrigerator.' Power's turning off. Dow sinking below 6,470

Main Street lost 20% last decade ... yet like sheep keep going back
..... Wall Street lost over 20% of Main Street's 401(k) retirement money between 2000 and 2010. Yes, Wall Street's a big loser the past decade. Their advice is self-serving. Period....

Correction? New crash imminent, worse than 2008
.... Money manager Jeremy Grantham recently said the market's overvalued 40%. That could mean a collapse to 6,600. Last week in Reuters' "Markets Could Be Derailed Again," George Soros echoed a "game over" warning with a "stark warning ... that the financial world is on the wrong track and that we may be hurtling towards an even bigger boom and bust than in the credit crisis."
Now Dow Theory's Richard Russell is warning the public of an imminent crash: "Sell ... get liquid ... by the end of this year they won't recognize the country." ....

'White Swans:' 2000 and 2008 crashes were predictable, next one too
..... "This Time Is Different: Eight Centuries of Financial Folly," economists Carmen Reinhart and Kenneth Rogoff pinpoint the key signal that will blow the whistle and call the game: The "90% ratio of government debt to GDP is a tipping point in economic growth." For 800 years "you increase it over and beyond a high threshold, and boom!"....

Warning: 800 years of history are calling 'game over'
..... All the TARP bailouts, stimulus debt and Fed loans won't work. Neither will a new conservative government....
..... No, "this time" it's never different. Get it? In the end, it doesn't matter what happens to the Dodd-Obama financial reforms. The end game's never a Black Swan, it's a very White Swan well known to historians -- guaranteed, inevitable and inescapable. This time is never different....

"Unquote"

"Hey, it sounds like "Game Over" for the Stock Markets??? "

Click on the following link to read more, think, digest, and you decide for yourself....

http://crash-is-dead-ahead-sell-get-liquid-now-2010-05-25
.
.

Technical Commentary 25/5/10

Down! Down! Down! Continuous down! All regional bourses are seriously downed today, ranging from 2% to 3.6%. FBMKLCI gave up another –23.56 points to close at 1250.13 (-1.85%). It had broken down the long-term support, 200 days MA and the support level 1254 today. The outlook of FBMKLCI is down trend.

There are 82 up counters and 846 down counters with the market total traded volume increased by 42% to 940 MIL shares. It is above 40 days volume moving average, this means the selling is heavy but at same time there are investors willing to buy at the discounted rate.

Today’s FBMKLCI top 2 gainers components (only 2 gainers today) are PETGAS and ASTRO. The top 5 lagging components are AMMB, MAYBANK, CIMB, PPB and GENTING.

FBMKLCI Technical Indicators
The INDEX stays below the Mid-Band with the Bollinger band expanded another 31%; this indicates FBMKLCI is bearish.

RSI decreases to 12.25; this indicates FBMKLCI is bearish biased.

STC %K decreased to 2.27 and the %D decreased to 6.91, this indicates FBMKLCI is bearish but it also indicates FBMKLCI is oversold for short term.

The MACD line continues to hook down below ZERO level, this indicates FBMKLCI is bearish.

Summary
All the indicators indicate FBMKLCI is bearish however STC and RSI also indicate FBMKLCI is oversold. FBMKLCI was dipped below the 200 days SMA today; this means the long-term support had been broken down.

The nearest possible resistance levels for FBMKLCI are 1254, 1266 and 1272. The nearest possible support levels are 1233, 1224 and 1200. Please click on the chart below for better understanding.

N.Korea ready to fight if attacked-report

SEOUL, May 25 (Reuters) - North Korean leader Kim Jong-il has told his military it may have to go to war but only if the South attacks first, according to a South Korea-based group which monitors the hermit state.

Already nervous Seoul financial markets were earlier hit by a report by the South's Yonhap news agency that Kim had told his troops to get ready for combat. The main share index dropping more than three percent. The won also fell sharply.
======================================
From VK
This news could further damage the global stock markets which had already fell into bear trend. FBMKLCI may test 1224 or 1200 support levels. FBMKLC fell below 200 day moving average for the 1st time since 20/4/2009, this means the long term view of FBMKLCI is bearish now.

Technical Commentary 24/5/10

Despite DJI and most of the Asians’ bourses are having a technical rebound but FBMKLCI encountered another big correction day today. FBMKLCI broke another support level at 1272 in the morning before recover above it and close at 1273.69 (-12.04, -0.94%). The market still consider as oversold but the investors are not willing to take the seller’s price and that’s the reason the market is keep dropping.

There are 252 up counters and 415 down counters with the market total traded volume decreased by 25.3% to 662 MIL shares. It is below 40 days volume moving average.

Today’s FBMKLCI top 3 gainers components (only 3 gainers today) are AXIATA, UMW and TENAGA. The top 5 lagging components are SIME, MMCCORP, RHBCAP, KLK and IOICORP.

FBMKLCI Technical Indicators
The INDEX stays below the Mid-Band with the Bollinger band expanded another 29%; this indicates FBMKLCI is bearish for short term.

RSI decreases to 14.57; this indicates FBMKLCI is bearish biased for short-term.

STC %K increased to 11.41 and the %D decreased to 8.3, this indicates FBMKLCI is bearish for short term but it also indicates FBMKLCI is oversold.

The MACD line continues to hook down below ZERO level, this indicates FBMKLCI is bearish for short term.

Summary
All the indicators indicate FBMKLCI is bearish for short term however STC and RSI also indicate it is oversold. FBMKLCI was dipped below the 200 days SMA this morning at 1266 however it was rebounded and supported above it. FBMKLCI mid-term view is bearish now. The nearest possible resistance levels for FBMKLCI are 1287, 1292 and 1302. The nearest possible support levels are 1272, 1266 and 1254. Please click on the chart below for better understanding.

Market always oppose what you think

Did you notice, when many people think that market will have a short term rebound but actually it will go opposite direction. Many retailed investors bought last friday and hoping for rebound to make some money, but the "Smart Money" will make you panic and you will cut loss or make you sell at T+3. When you think that it will dip some more, it will rebound. They make you "catch no ball" so that you are always the losers and they are always the winners. So the best way is sideline as what VK suggested to all of you since 4/5/10. That's how 95% of the people are losing money and only 5% of the investors are making money in the stock market. If you wanted to join the 5% winners group, please remember to visit us everyday to check the status and attend our regular training sessions.

Technical analysis 技术分析

Technical analysis is the process of analyzing market price action and using past data on charts to attempt to forecast the highest likely outcome of the future.

Technical analysis is an art, and we can mastered in a very short period of time. There are no financial statements to read over. This is the art of reading and interpreting charts, their patterns, and determining the highest likely short-term outcome of the future.

技术分析是分析市场价格行为和使用过去的数据图表，试图预测未来的最高可能的结果的过程。

技术分析是一门艺术，我们可以在很短的时间内掌握它。它没有财务报表可阅读。这是阅读和解释图表艺术，他们的模式，并确定了最高可能的短期未来的结果。

FKLI (KLCI Future) Weekly Commentary 21/5/10

Same as FBMKLCI, we found a bearish divergence on FKLI on 4/5/10. Hence we expect the market is going to turn around. On 7/5/10, FKLI plunged 27.5 points before recover to loss only 5 points. Since then a technical rebound had started until 13/5/10 to form a lower high. It started to dip again on 14/5/10 until today 21/5/10. The market continues to dip for a total of 7 trading days since 14/5/10. All the indicators are pointing to down trend however the STC and the RSI indicate FKLI is oversold today. There could be a technical rebound before it continues to drop further. The nearest possible resistance levels for FKLI are 1287 and 1301. The nearest possible support levels are 1277 and 1270.


On 12/5/10, we shorted XX lots of June’s FKLI at 1335 and placed a buy stop at 1353 to 1355. We were holding the positions until today and managed to close them at 1280 today (21/5/10). We gained 55 points per lot, since 1 lot= RM50 X 55 points= RM2750 profit per lot. We took profit because technically the cash market is oversold, the short-term view either go sideway or short-term rebound. Any rebound above 1292 or higher is an opportunity to short but place a buy stop at 1303 or higher. We expect a selling pressure at about 1300 level. At the mean time we are sideline.  Please click on the chart to review.

Note: Someone may ask me why I placed a stop at 1353 (18 points above)? The reason is simple, bear divergence had formed and current sentiment is bearish. It will not reach there however a protection (insurance) is needed at all time to preserve our capital.

Technical Commentary 21/05/10

Due to extension worry on Europe’s debt issue and DJI plunged -367 point, it is another -13.65 big gap down for FBMKLCI today. The sentiment not getting better after the market had opened for 30 mins but getting worse, it went as low as 1280.63 (-23.53) before rebounded slightly to close at 1285.73 (-18.43, -1.41%). We expected a technical rebound today but did not happen due heavy selling on global markets. However the market is oversold now and we still expect a temporary technical rebound before it continues to head south.

There are 145 up counters and 678 down counters with the market total traded volume increased by 15.8% to 886 MIL shares. The market volume is almost touching the 40 days VMA however when the market is under correction, this means that the selling is heavy and panic.

Today’s FBMKLCI top 5 gainers components are NESTLE, UMW, PETGAS, GENM and ASTRO. The top 5 lagging components are CIMB, MAYBANK, AXIATA, TANJONG and TENAGA.

FBMKLCI Technical Indicators
The INDEX stays below the Mid-Band with the Bollinger band expanded another 42%; this indicates FBMKLCI is bearish for short term.

RSI decreases to 16.96; this indicates FBMKLCI is bearish biased for short-term.

STC %K increases to 7.56 and the %D decreases to 13.19, this indicates FBMKLCI is bearish for short term but it is oversold now.

The MACD line continues to hook down below ZERO level, this indicates FBMKLCI is bearish for short term.

Summary
All the indicators indicate FBMKLCI is bearish for short term. FBMKLCI had broken a few support levels today. The RSI and STC had indicated FBMKLCI is oversold, we still expecting a short-term technical rebound will happen before further correction. Most of the indicators indicate the mid-term view of FBMKLCI had turn bearish today. The nearest possible resistance levels for FBMKLCI are 1292, 1302 and 1320. The nearest possible support levels are 1280 and 1272. Please click on the chart below for better understanding.

Early warning messages from this Blog since 4th May 2010

If you always visit our Blog, it can be avoided for the recent disasters. On 4/5/10, we found a bearish divergence signal on FBMKLCI. On 5/5/10, the index was dipped and rebounded, however all other indices had formed a lower high. These are the early warning signals that the market will turn around. We are happy that many of you had visited our site regularly and you had either took profit or cut loss short. The market had turn downtrend today after it had dipped below 1292. If it rebound above this level in next few days and dips again, it will create a lower high and this is so call the downtrend’s pattern. So you may select not to buy any stock from now, just keep your cash 100% until the market turn around from the bottom.

Dow off 376 on world economic worries 21/5/10

Stocks took their deepest plunge in more than a year Thursday as fears grew that Europe's debt crisis could spread around the world and undermine the U.S. economic recovery. The possibility has been brewing for weeks, but analysts said some investors are just waking up to it.

The Dow Jones industrial average fell 376 points, its biggest point drop since February 2009. All the major indexes were down well over 3 percent and are now showing losses for 2010. Interest rates fell sharply in the Treasury market as investors once again sought the safety of U.S. government debt.

Dow Jones encountered another single day plunge of -3.6%, the biggest drop since Feb 2009. We expect it will retest the 10,000 level in near term. The outlook is bearish. Please refer to the chart below.

Technical Commentary 20/5/10

FBMKLCI today opened with a small gap down before rebounded slightly to positive level and then it was traded sideway in the morning session. However the sentiment in the afternoon turn bearish and it went as low as 1300.44 (-7.79) before rebounded slightly to the opening level at 1304.16 (-4.07, -0.39%). FBMKLCI is exactly supported by 1300 support level today, so 1300 temporary provide a firm support for FBMKLCI. The candlestick formed a doji (+ sign) below the long red candlestick, at the same time it is out of the BB20 red band (see picture), possible there will be a technical rebound for the index counters tomorrow.

There are 250 up counters and 449 down counters with the market total traded volume decreased by 2.1% to 765 MIL shares. The market volume is below 40 days VMA however this is consider normal when the market is under correction.

Today’s FBMKLCI top 5 gainers components are AMMB, MMCCORP, BAT, RHBCAP and YTLPOWR. The top 5 lagging components are TM, GENTING, UMW, PETGAS and BJTOTO.

FBMKLCI Technical Indicators
The INDEX stays below the Mid-Band and at the lower band with the Bollinger band expanded 34%; this indicates FBMKLCI is bearish for short term.

RSI decreases to 31.10; this indicates FBMKLCI is bearish biased for short-term.

STC %K increases to 7.81 and the %D decreases to 24.69, this indicates FBMKLCI is bearish for short term but it is oversold.

The MACD line had hooked down below the ZERO level today, this indicates FBMKLCI is bearish for short term.

Summary
All the indicators indicate FBMKLCI is bearish for short term. FBMKLCI is exactly supported by 1300 support level today, so 1300 temporary provide a firm support for FBMKLCI. The candlestick formed a doji (+ sign) below the long red candlestick, at the same time it is out of the BB20 red band (see picture), possible there will be a technical rebound for the index counters tomorrow. Any rebound will form a lower high for short term and the market could trend down again after rebounded.
The nearest possible resistance levels for FBMKLCI are L2 trend line, 1320 and 1334. The nearest possible support levels are 1300 and 1292. Please refer to the chart below for better understanding.

Technical Commentary 19/5/10

There was a bearish divergence signal detected on 5/5/10 (see report on this Blog on 4/5/10), FBMKLCI finally plunged badly today. The index opened at 1329.05 (-1.12) and it started to drop slowly. However the selling pressure was heavy toward the noon session and it plunged all way down to closed at 1308.23 (-21.94, -1.65%). The index had broke a few support levels and this is the 1st time we saw it drops more than 1.6% since 17th Aug 2009.

There are 136 up counters and 689 down counters with the market total traded volume increased by 13% to 781 MIL shares. With the market correction, the increase of trading volume also means that the selling is heavy.

FBMKLCI has no gainer for today. The top 5 lagging components are PPB, IOICORP, MMCCORP, CIMB and AMMB.

FBMKLCI Technical Indicators
The INDEX stays below the Mid-Band with the Bollinger band expanded 82%; this indicates FBMKLCI is bearish for short term.

RSI decreases to 34.88; this indicates FBMKLCI is bearish biased for short-term.

STC %K decreases to 3.79 and the %D increases to 41.01, this indicates FBMKLCI is bearish for short term.

The MACD line continues to hook down at ZERO level, this indicates FBMKLCI is bearish for short term.

Summary
All the indicators indicate FBMKLCI is bearish for short term. If the composite index continues to drop below 1292, the market will turn down trend in near future. However STC %K indicates the market is oversold today, we expect a temporary technical rebound any time soon before the market continues to head south.

The nearest possible resistance levels for FBMKLCI are 1320, EMA14/21/31 and 1334. The nearest possible support levels are 1302 and 1292. Please refer to the chart below for better understanding.

Technical Commentary 18/5/10

FBMKLCI today opened with another gap down at 1333.27 (-1.0). It continued to trade in a negative range and went as low as 1327.05 (-7.22) before rebounded to close at 1330.17 (-4.10, -0.31%). FBMKLCI was rebounded from the L2 trend line, that’s means L2 temporary provides a support for the index (see picture). However FBMKLCI is resisted by the resistance level at 1334 and EMA31.
There are 336 up counters and 295 down counters with the market total traded volume increased by 9.1% to 690 MIL shares. The volume is still below the 40 days VMA of 928 MIL shares. This means many investors still choose to stay sideline.

Today’s FBMKLCI top 5 gainers components are TANJONG, GENM, BAT, CIMB and ASTRO. The top 5 lagging components are PLUS, MAYBANK, GENTING, PPB and RHBCAP.

FBMKLCI Technical Indicators
The INDEX stays below the Mid-Band with the Bollinger band contracted another -2%; this indicates FBMKLCI is still considers as neutral to bearish biased.

The INDEX was stays below the EMA/14/21/31. this indicates FBMKLCI is trending down. If the EMAs turn dead cross, then it will be bearish.

RSI decreases to 42.88; this indicates FBMKLCI is slightly bearish biased for short-term.

STC %K decreases to 44.79 and the %D increases to 65.13, this indicates FBMKLCI is consider as neutral to bearish biased for short-term.

The MACD line continues to hook down and the histogram has formed a rounding top. This indicates is bearish biased.

Summary
Most the indicators indicate FBMKLCI is neutral to bearish biased. However the market volume continues to decrease, this means that many investors had started to stay away from the market. Without market volume support, the trend will be sideway to bearish biased.
The nearest possible resistance levels for FBMKLCI are EMA31 (1333), EMA21 (and 1336) and the Bollinger BMB at 1337. The nearest possible support levels are L2 trend line, 1327, and the FIBO 1320.29. Please refer to the chart below for better understanding.

What to do with current market situations?

I'm going to keep it short.
If you had already preserved all your capital in cash, GOOD. Then sit tight, stay sideline for this moment until the market is settled.
If you still have counters in hands with short to middle term positions, it is advisable to cash out whenever there is technical rebound, or cash out if the current price is not better then BMB or triggered below trend support line as per examples below.

NOTE:
For counters in down trend direction, their chart's typical characteristics are:
- It tends to propagate between Bollinger Middle Band(BMB) and Bollinger Lower Band(BLB);
- Very likely they were staying below short and middle terms EMA;
- MACD histogram is in rounding top and the green line is close to or below zero levels;
- RSI and STC are below 50 levels;
- MOM is below zero level;

Technical Commentary 17/5/10

FBMKLCI today opened with another gap down at 1337.24 (-2.06). It continued to trade in a negative range and went as low as 1326.96 (-12.34) before rebounded to close at 1334.27 (-5.03, -0.38%). FBMKLCI is traded below the BBMB and EMA14/21 right now, it is considered as bearish biased today.
There are 187 up counters and 557 down counters with the market total traded volume decreased by 7.2% to 633 MIL shares. The volume is far below the 40 days VMA of 932 MIL shares. This means the investors had started to stay sideline.

Today’s FBMKLCI top 5 gainers components are PLUS, RHBCAP, PPB, AMMB and UMW. The top 5 lagging components are MMCCORP, AXIATA, IOICORP, TM and KLK.

FBMKLCI Technical Indicators
The INDEX dipped below the Mid-Band with the Bollinger band contracted -2%; this indicates FBMKLCI is bearish to neutral biased.

RSI decreases to 45.42; this indicates FBMKLCI is bearish biased for short-term.

STC %K decreases to 54.36 and the %D increases to 74.42, this indicates FBMKLCI is consider as neutral to bearish biased for short-term.

The MACD line continues to hook down and the histogram has formed a rounding top. This indicates FBMKLCI is bearish biased.

Summary
Most the indicators indicate FBMKLCI is slightly bearish biased but still closed to neutral. However the market volume continues to decrease, this means that many investors had started to stay away from the market.

The nearest possible resistance levels for FBMKLCI are BBMB, 1345 and 1350. The nearest possible support levels are today’s low 1327, the L2 trend line and the FIBO 1320.29. Please refer to the chart below for better understanding.

Follow up and counters to watch 17-May-10, MON

IMPORTANT REMINDER:
Please take note of this Sunday (16-May) meeting at YMCA, Pg, and Raja Uda, B'W
as detailed on the right column of this web page.

The following counters are viable provided by next week the FBMKLCI is supported by the BMB. Otherwise, take note of the alert cut loss position in the illustrations. To find tune your entry points, resistances, supports, and stop losses, you are required to read in conjunction with WinChart Technical Software or you may call us for guidance. The contact numbers are on the right column of this web page.

Technical Commentary 14/5/10

Due to overnight DJI dropped 113.9 points and the heavy weighted SIME was dragging down the index, FBMKLCI today opened with gap down at 1339.91 (-7.01). It was then traded in a narrow range and finally closed at 1339.30 (-7.62, -0.57%). It is supported by the mid-band at 1340 right now.

There are 293 up counters and 371 down counters with the market total traded volume decreased by 24.7% to 682 MIL shares. The volume is again below the 40 days VMA of 932 MIL shares.

Today’s FBMKLCI top 4 gainers components (only 4 gainers today) are DIGI, GENTING, TENAGA and TANJONG. The top 5 lagging components are SIME, PETDAG, PLUS, GENM and BJTOTO.

FBMKLCI Technical Indicators
The INDEX stays at the Mid-Band with the Bollinger band contracted -2%; this indicates FBMKLC is slightly bearish to neutral today.

RSI slightly decreases to 52.06; this indicates FBMKLCI is sideway biased for short-term.

STC %K decreases to 69.03 and the %D increases to 79.12, this indicates FBMKLCI is moving from bullish to neutral for short-term.

The MACD line continues to hook down and the histogram has not formed a rounding bottom. This indicates FBMKLCI is turning from bullish to slightly bearish biased for short-term.

Summary
Most the indicators indicate FBMKLCI is turning from bullish to neutral today. The index was suppported by the 14 days EMA today. However if the index continues to drop on next Monday, it will turn bearish biased.
The nearest possible resistance levels for FBMKLCI are 1342 and 1350. The nearest possible support levels are EMA14, L2 trend line and 1324.8. Please refer to the chart below for better understanding.

Follow up and counters to watch 14-May-10, FRI

Technical Commentary 13/5/10

FBMKLCI today considered as sideway to slightly bullish trend. As it approaching the FIBO1350, the resistance is stronger now. It opened with a small gap up at 1345.65 (+1.55) and then it went as high as 1348.09 (+3.99) before closed at 1346.92 (+2.82. +0.21%). The index is above the mid-band however it was resisted by 1350 now.

There are 396 up counters and 253 down counters with the market total traded volume increased by 35.8% to 905.7 MIL shares. The volume is almost touching the 40 days VMA of 924 MIL shares; this is a good sign, means that more investors had started to buy.

Today’s FBMKLCI top 5 gainers components are MMCCORP, MAYBANK, TM, TANJONG and PLUS. The top 5 lagging components are BJTOTO, GENM, KLK, BAT and UMW.

FBMKLCI Technical Indicators
The INDEX stays above the Mid-Band with the Bollinger band expanded 3%; this indicates FBMKLC is slightly bullish bias for short-term.

RSI slightly decreases to 59.41; this indicates FBMKLCI is sideway biased for short-term.

STC %K increases to 91.25 and the %D increases to 75.23, this indicates FBMKLCI is bullish biased for short-term.

The MACD line continues to hook up and almost tough the trigger line. The histogram had formed a rounding bottom and almost cross the ZERO level. This indicates FBMKLCI is bullish biased for short-term.

Summary
Most the indicators indicate FBMKLCI is bullish biased for short-term however the resistance is getting stronger now as it approaching 1349.92 previous peak. The increase of volume is a good sign that some investors had return to the market. Nevertheless the higher volume could be contributed by the top 3 high runners; AIM is under selling pressure, Maxbiz is under profit taking and Tranmil was buying up due to POS might acquire it.

The nearest possible resistance levels for FBMKLCI are 1350. The nearest possible support levels are the BBMB (1340.8), 1324.8 and the FIBO 1320.29. Please refer to the chart below for better understanding.

Counter to consider - POS 13/5/10

Follow up and Counters to Watch for 13-May, THU

Technical Commentary 12/5/10

FBMKLCI opened with a sideway manner and it was pushed up near the end of the day session and closed at 1344.1 (+3.38, +0.25%). The outlook of FBMKLCI looks better now however the overall market volume is retreating and most of the sectors were sideway biased. We could see a volume divergence on the market if the trading volume remains as low as today in the next few days.

There are 362 up counters and 241 down counters with the market total traded volume decreased by 14.7% to 666 MIL shares. The volume is below the 40 days VMA of 918 MIL shares; this means that the investors are caution.

Today’s FBMKLCI top 5 gainers components are KLK, BJTOTO, BAT, TANJONG and GENTING. The top 5 lagging components are IOICORP, AXIATA, TENAGA, MISC and MMCCORP.

FBMKLCI Technical Indicators
The INDEX stays above the Mid-Band with the Bollinger band expanded 6%; this indicates FBMKLC is bullish bias for short-term.

RSI slightly increases to 59.55; this indicates FBMKLCI is slightly bullish biased for short-term.

STC %K increases to 83.03 and the %D increases to 65, this indicates FBMKLCI is bullish biased for short-term.

The MACD line continues to hook up and the histogram had formed a rounding bottom; this indicates FBMKLCI is bullish biased for short-term.

Summary
All the indicators indicate FBMKLCI is bullish biased for short-term. However if we analysed the overall market by sectors, we found that most of them still closed below the Mid-band. The market volume closed further below 40 days VMA, this means that many investors are sideline. The nearest possible resistance levels for FBMKLCI are 1350. The nearest possible support levels are the BBMB (1340), 1324.8 and the FIBO 1320.29. Please refer to the chart below for better understanding.

Follow up Counters for 12-May-2010, WED

The market sentiment still unclear with many counters are closed near or below Bollinger Middle Band (BMB). As we had mentioned earlier, preserve your capital whenever there is a rebound opportunity near BMB. Let's wait until the market has a clearer technical direction for next move.

Technical Commentary 11/5/10

With respond to the European markets (typically up 5% to 9%) and overnight DJI up 404 points, FMBKLCI opened flat at 1333.19 (-0.78) however it went as high as 1341.41 (+7.44) to close the gap which created on 4/5/10 within 30 mins. The index then moved sideway for about 2.5 hours before profit taking started at about 12pm and the afternoon session. It then regained some strength at about 3:30pm and finally closed at 1340.72 (+6.75, +0.51%). We saw a slightly bullish strength on the index counters but most of the sectors are still in bearish zone. Many lower liners are giving up the gain today especially during the afternoon session.

There are 302 up counters and 399 down counters with the market total traded volume decreased by 3% to 781 MIL shares. The volume is below the 40 days VMA of 930 MIL shares; this means that the investors are still caution.

Today’s FBMKLCI top 5 gainers components are GENTING, GENM, UMW, PETDAG and SIME. The top 3 lagging components (only 3 losers today) are YTL, BAT and MMCCORP.

FBMKLCI Technical Indicators
The INDEX crosses the Mid-Band with the Bollinger band narrow to 0%; this indicates FBMKLC is slightly bullish to sideway bias for short-term.

RSI slightly decreases to 54.49; this indicates FBMKLCI is sideway biased for short-term.

STC %K increases to 73.17 and the %D increases to 53.11, this indicates FBMKLCI is bullish biased for short-term.

The MACD line continues to hook up a little and the histogram seem to turn rounding bottom soon; this indicates FBMKLCI is sideway to bullish biased for short-term.

Summary
The indicators above are mixed for FBMKLCI but most of the indicators indicate FBMKLCI is sideway to slightly bullish biased for short-term. However if we analysed the overall market by sectors, we found that most of them still closed below the Mid-band. The market volume still closed below 40 days VMA, this means that many investors are sideline. The nearest possible resistance levels for FBMKLCI are 1342 and 1350. The nearest possible support levels are the BBMB, 1324.8 and the FIBO 1320.29. Please refer to the chart below for better understanding.

Technical Commentary 10/5/10

As mentioned on my post on last Friday (7/5/10), most of the lower liners are oversold and technical rebound will happen anytime. Technical rebound did happen on the lower liners today however the index link counters are moving sideway. Even though the Asian bourses jumped 1% to 2% and Europe’s market opened typically surged >4% to 7% due to $1 trillion EU's rescue plan but FBMKLCI was closing flat at 1333.97 (+1.08, +0.08%). Today’s market considered as sideway for FBMKLCI and technical rebound for most of the lower liners that oversold for the last 2-3 sessions.

There are 529 up counters and 194 down counters with the market total traded volume decreased by 14% to 805 MIL shares. The volume is below the 40 days VMA of 919 MIL shares; this means that the investors are caution.

Today’s FBMKLCI top 5 gainers components are TENAGA, BJTOTO, CIMB, NESTLE and MAXIS. The top 5 lagging components are AXIATA, HLBANK, UMW, DIGI and PETGAS.

FBMKLCI Technical Indicators
The INDEX stays BELOW the Mid-Band with the Bollinger band expanded 3%; this indicates FBMKLC is bearish to sideway bias for short-term.

RSI slightly increases to 56.5; this indicates FBMKLCI is sideway biased for short-term.

STC %K increases to 53.48 and the %D decreases to 45.47, this indicates FBMKLCI is sideway to bearish biased for short-term.

The MACD line continues to hook down a little and the histogram seem to turn rounding bottom soon; this indicates FBMKLCI is sideway biased for short-term.

Summary
All the indicators above indicate FBMKLCI is sideway biased for short-term. The composite index is moving sideway but actually most of the lower liners are having a temporary technical rebound today. The nearest possible resistance levels for FBMKLCI are 1334, the BBMB (1337) and 1340. The nearest possible support levels are 1324.8 and the FIBO 1320.29. Please refer to the chart below for better understanding.

Follow up Counters for 11-May-2010, TUE

Down Trending Technical Rebound Scenario

Typically at the initial of bearish stage, many counters present technical rebound as below example and "Head-and-Shoulder" formation may be observed consequently. This also terms as "Lower-High" analysis. So investors should be cautious about this typical formation and watch technical rebound or "Lower-High" as an opportunity to preserve your capital for later when the sentiment is more settled.

Follow up Counters for 10-May-2010, MON

The market sentiment is bearish biased. Any possible rebound should be treated as an opportunity to preserve your capital for later when the market is more settled.

Technical Commentary 07/05/10

Due to Europe debt concerns is getting serious, overnight DJI plunged another -347 points and causes regional and our markets to plunge badly at the opening session today. FBMKLCI losses -13.16 points (1318.71) at the opening and went as low as 1315.63 (-16.24) before climbing slowly to close positive at 1332.89 (+1.02, +0.08%). There are only 8 up counters at the opening which we did not see this scenario for a long time. After selling off for a few days on the lower liners, we observe that many of them are oversold. We expect a temporary technical rebound will happen anytime soon on the lower liners. However this is only a short life and the downtrend could resume again.

There are 205 up counters and 522 down counters with the market total traded volume increased by 4.4% to 938 MIL shares. The volume is slightly above the 40 days VMA of 919 MIL shares. With the bearish trend, the increase of market volume also means heavy selling but on the other hand there are many investors collect the stocks at a discount rate.

Today’s FBMKLCI top 5 gainers components are AXIATA, BJTOTO, DIGI, GENM and HLBANK. The top 5 lagging components are MAXIS, BAT, MMCCORP, PPB and PPBANK.

FBMKLCI Technical Indicators
The INDEX stays BELOW the Mid-Band with the Bollinger band expanded 6%; this indicates FBMKLC is bearish biased for short term.

RSI slightly increases to 50.1; this indicates FBMKLCI is sideway to bearish biased for short-term.

STC %K increases to 50.34 and the %D decreases to 49.22, this indicates FBMKLCI is sideway to bearish biased for short-term.

The MACD line continues to hook down and the histogram turns rounding top; this indicates FBMKLCI is bearish biased for short-term.

Summary
All the indicators above indicate FBMKLCI is sideway to bearish biased for short-term. The composite index look like a sideway market after pushing up from –16.24 points to +1.02 points today but actually most of the penny stocks and lower liners are heavy corrected. The nearest possible resistance levels for FBMKLCI are 1334, the L2 dynamic trend line, the BBMB and 1340. The nearest possible support levels are 1324.8 and the FIBO 1320.29. Please refer to the chart below for better understanding.

Is it a computer error or typographical error?

NEW YORK (AP) -- A computerized selloff possibly caused by a simple typographical error triggered one of the most turbulent days in Wall Street history Thursday and sent the Dow Jones industrials to a loss of almost 1,000 points, nearly a tenth of their value, in less than half an hour. It was the biggest drop ever during a trading day.

No one was sure what happened, other than automated orders were activated by erroneous trades. One possibilility being investigated was that a trader accidentally placed an order to sell $16 billion, instead of $16 million, worth of futures, and that was enough to trigger sell orders across the market.

No one was taking blame, either. The New York Stock Exchange said there was no problem with the Big Board's systems, and all the markets were on a conference call with the Securities and Exchange Commission

Technical Commentary 06/5/10

Today's market was considered as a small correction for FBMKLCL but a heavy correction for lower liners. FBMKLCI open lower at 1333.22 (-2.43) and then it rebounded slightly passed yesterday closing. It then traded as high as 1337.88 (+2.23) before closed lower at 1331.87 (-3.87, -0.87%). As you can see, even Unisem announced with a very good Q1 result and proposed bonus issue but it also cannot escape from the bearish market. There are 137 up counters and 644 down counters with the market total traded volume slightly increased by 4.4% to 899 MIL shares. The volume is slightly below the 40 days VMA of 919 MIL shares. With the bearish trend on the lower liners, the increase of market volume also means heavy selling on the penny stocks and lower liners.

Today’s FBMKLCI top 2 gainers components (only 2 gainers today) are PLUS and CIMB. The top 5 lagging components are TANJONG, BAT, GENTING, BJTOTO and RHBCAP.

FBMKLCI Technical Indicators
The INDEX stays BELOW the Mid-Band with the Bollinger band expanded 4%; this indicates FBMKLC is bearish biased for short term.

RSI decreases to 44.74; this indicates FBMKLCI is bearish biased for short-term.

STC %K had dipped below 30 (threshold) at 29.44 and the %D decreases to 59.61. This indicates FBMKLCI is bearish biased for short-term.

The MACD line continues to hook down and the histogram turns rounding top; this indicates FBMKLCI is bearish biased for short-term.

Summary
All the indicators above indicate FBMKLCI is bearish biased for short-term. The composite index look like a sideway market today but actually most of the penny stocks and lower liners are heavy corrected. The nearest possible resistance levels for FBMKLCI are 1334, the L2 dynamic trend line, the BBMB and 1340. The nearest possible support levels are 1324.8 and the FIBO 1320.29. Please refer to the chart below for better understanding.

Follow up Counters for 7-May-2010, FRI

The world markets sentiment is getting worst, it is advisable treat any possible rebound as an exit and stay out until the sentiment is getting more settled.

Follow Up Counters for 6-May-2010, Thu:

Technical Commentary 05/5/10

A new concern over Greek financial crisis, overnight DJI plunged -225 points and Europe bourses mostly plunged more than 2.5% to 3%. Asian and our markets cannot escape from the bad news. FBMKLCI opened with gap down at 1326.99 (-15.9) and it went as low as 1324.75 (-18.14) before slowly calming down to closed at 1335.65 (-7.24, -0.54). FBMKLCI broke down a few support levels before it was supported by1324.8 support level that we mentioned yesterday. One of the support levels is L2 dynamic trend line that was broken down this morning and now L2 had become the resistance level for FBMKLCI which resisted it to rebound further (see picture).

There are 193 up counters and 531 down counters with the market total traded volume increased by 12.2% to 861 MIL shares. The volume is slightly below 40 days VMA.

Today’s FBMKLCI top 4 gainers components (only 4 gainers) are TM, BJTOTO, YTL, and MAXIS. The top 5 lagging components are GENM, SIME, KLK, MMCCORP and TANJONG.

FBMKLCI Technical Indicators
The INDEX stays BELOW the Mid-Band with the Bollinger band expanded 1%; this indicates FBMKLC is bearish biased now for short term.

RSI decreases to 49.82; this indicates FBMKLCI is bearish biased for short-term.

STC %K decreases to 44.21 and the %D decreases to 76.12. This indicates FBMKLCI is bearish biased for short-term.

The MACD line had hooked down again and the histogram turns rounding top; this indicates FBMKLCI is bearish biased for short-term.

As indicated on the picture below, a bearish divergence (MACD versus Index ) had been identified since yesterday. This means correction could be started from here.

Summary
All the indicators above indicate FBMKLCI is bearish biased for short-term. As stated on the earlier post, most of the sectors had formed a lower high or bearish divergence, this means that correction could be started from this level for FBMKLCI and the whole market.
The nearest possible resistance levels for FBMKLCI are the L2 dynamic trend line, the BBMB, 1340.8 and 1349.92. The nearest possible support levels are 1334, 1324.8 and FIBO 1320.29. Please refer to the chart below for better understanding.

5-MAY-2010, Wed, noon update:

With respect to our chart pattern observation, the following sector indexes are forming "LOWER HIGH":
Finance, Plantation, Construction, Consumer, Industrial Products, Property, Technology.

Trade & Service index appears similar to FBMKLCI, a bearish divergence is observed.

All and all, the current world market sentiment is very much influence by:
The fears of a Greek debt default rose, and in turn hurting the rest of the European markets, and affecting the rest of continents. So our FBMKLCI is not escaped from the Asia continent.

Perhaps one could treat any technical rebound as an opportunity to preserve your capital for later investment when the market sentiment is cooled down.

Not to forget the World Cup is around the corner that likely may have indirect influence on the liquidity and sentiment of the equity market.

FBMKLCI ALERT (4-May, after 5pm):
If 4-May-2010's highest is a peak,
then a BEARISH DIVERGENCE may form
between FBMKLCI and MACD. Be Alert!

Industrial sector is bearish now

Sometime you can not just looking at FBMKLCI alone to determine whether the market is bullish or bearish. I discovered that the Industrial sector had already fell into correction stage. Other sectors like Technology, Construction. and Property are likely to follow soon. The main players in the industial sector are Rubber Gloove, Steel, Packing, Cement and many others. So.....what should you do? Our believe still the same, "Cut loss early and let the profit run". Please refer to the chart below:

Technical Commentary 04/05/10

Despite DJI up 143 points, our market does not follow. FBMKLCI opened positive at 1348.36 (+1.47) and went as high as 1349.92 (+3.03) before started to cool down at 9:30am. It slowly dipped lower and finally closed below yesterday closing at 1342.89 (-4.0, -0.30%). The index still considered as sideway but it is another correction day for the 2nd and 3rd liners. There are 175 up counters and 556 down counters with the market total traded volume slightly decreased by 0.5% to 767 MIL shares. The volume is below 40 days VMA; this means that the investors are more caution now.

Today’s FBMKLCI top 5 gainers components are MAYBANK, PLUS, BAT, KLK, and TM. The top 5 lagging components are GENM, SIME, GENTING, BJTOTO and TANJONG.

FBMKLCI Technical Indicators
The INDEX stays above the Mid-Band with the Bollinger band reduces from 18%
to -20%; this indicates FBMKLC bullish trend had been weakened and turn sideway biased.

RSI slightly increased to 57.01; this indicates FBMKLCI is turning sideway biased for short-term.

STC %K had decreased to 72.51 but the %D increases to 84.56. This indicates FBMKLCI bullish trend is weakened. This also means uptrend is not confirm. If the %K continue to dip below 70, FBMKLCI will continue to move sideway or correction.

The MACD line had hooked down again and the histogram could turn rounding top; this indicates FBMKLCI is sideway biased for short-term.

Summary
Most of the indicators above indicate FBMKLCI bullish trend is weakening and will continue to move sideway to even correction. The nearest possible resistance levels for FBMKLCI are 1349.92 and L1 dynamic resistance levels. The nearest possible support levels are 1340.8, 1334 and 1324.8. Please refer to the chart below for better understanding.

Follow Up Counters for 5-May-2010, Wed:

Follow up Counters for 4-May-2010, Tue:

Technical Commentary 03/5/10

FBMKLCI opened negative at 1344.24 (-2.14) and went as low as 1340.26 (-6.12) before rebounded from the support level 1340.8. It was then consolidated slightly above Friday closing and finally closed at 1346.89 (+0.51, +0.04%). It is a sideway day for FBMKLCI but a correction day for 2nd and 3rd liners. There are 254 up counters and 456 down counters with the market total traded volume decreased by 13.3% to 771 MIL shares. The volume is below 40 days VMA; this means that the investors are caution now. The index stays in the “Green” zone mainly due to good support by GENTING and TANJONG.

Today’s FBMKLCI top 5 gainers components are TANJONG, GENTING, BAT, KLK, and HLBANK. The top 5 lagging components are GENM, TENAGA, PLUS, PBB and RHBCAP.

FBMKLCI Technical Indicators
The INDEX stays above the Mid-Band with the Bollinger band expanded another 18%; this indicates FBMKLC is bullish biased for short-term.

RSI further decreased to 56.01; this indicates FBMKLCI is slightly sideway biased for short-term.

STC %K further increased to 94.71 and the %D also increased to 81.70. This indicates FBMKLCI is maintains bullish biased for short-term.

The MACD line had hooked up but has not touch the trigger line yet and the histogram is forming a rounding bottom but it has not pass the zero level; this indicates FBMKLCI is slightly bullish biased for short-term.

Summary
Most of the indicators above indicate FBMKLCI is bullish biased however the trading volume does not follow the indicators. The lower market volume is hard to push the index to advance further; hence we expect the market will move sideway for short-term. The nearest possible resistance levels for FBMKLCI are 1347.61 and the L1 dynamic resistance levels. The nearest possible support levels are 1340.8, 1334 and 1324.8. Please refer to the chart below for better understanding.