Monday, February 09, 2009

Trapped within a rising wedge

KLCI Daily Chart

Looking at the KLCI, we can see that it is still trap within a rising wedge. So, don't get excited if it moves up to the upper resistance of around 945. For the sector analysis, finance, construction and plantation indicates a short term upward movement:
Malaysia Longterm Midterm Shorterm
KLCI Down Neutral Neutral
Finance Down Neutral Up (+)
Construction Down Neutral Up (+)
Plantation Down Neutral Up
Property Down Neutral Neutral
Mesdaq Down Neutral (+) Neutral
2nd Board Down Down Down

For the rest of the world, Obama's false hope/change may push stocks up:
World Longterm Midterm Shorterm
S&P500 Down Down Neutral (+)
DJI Down Down Neutral (+)
NasdaqComp Down Down Neutral (+)
Nikkei 225 Down Down Neutral
Kospi Down Neutral Up (+)
SSECI Down Neutral Up
HSI Down Down Neutral
TWII Down Down Neutral (+)
STI Down Down Down (-)
SENSEX Down Down Neutral
FTSE Down Down Neutral
DAX Down Down Neutral

If you are afraid that you have missed the Shanghai train, don't worry. I'm not. Please note that the computation of the GDP for China is different from the western countries (it doesn't make sense to me, so Google yourself for the difference). My wait and see strategy remains unchanged.

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