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.