Early warning by 29-Jun (TUE, 14:30) afternoon session:
Since last week, most of Asia's major composites are below Bollinger Middle Band (BMB10) except KLCI, STI, and Seoul. BUT until this noon time, STI and Seoul failed to hold above BMB10 already. Shanghai is breaking a newer 12 months low... and more other indexes are on the south turn... the Asia market is dropping as much as 3% on Shanghai now....
For the past few trading days, we have observed that our KLSE market sentiment is more on the liquidation or cashing out from equity market although it is still holding above the BMB...
With this kind of negative sentiment, it is not recommended to take new positions or rather it is recommended to follow the trend, take whatever profits that you have, or cash out from the market first and stay out ...
The worry is if finally FBMKLCI could not sustain at 1312, the downside could be accelerated...
