Ads

Sunday, March 11, 2007

Rebounding...

My observation based on daily chart:
1. KLCI has rebounded to around 55% according to EW theory.
2. Some selling can be seen as this level.
3. There is a gap between 1137 and 1144
4. Volume continues to fall
5. MACD still in negative

My intepretation:
1. The worst is still not yet over, possible gap cover.

However, it seems that the play is still on for hot counters like asiaep, quest etc.

So I think not all will go done if the index moves south. Do you see anything interesting counters?

1 comment:

Michael2005 said...

fasten your seatbelt. let's get on a roller coaster ride. The break out of the V shape in the klci chart isn't convincing. today it will trend down; if the market is bullish, it will rebound by the end of the day. if not, we are heading down sharp down....