Ads

Friday, May 08, 2009

Weekly Analysis

KLCI Weekly Chart

Looking at the KLCI weekly chart, I must say it is very bullish indeed. Practically a straight line from 840. It has surely caught everyone off-guard. At the moment of this writing, US futures doesn't indicate any adverse reaction after the release of the stress test result. My plantation play is still not moving. Instead, it is the small caps that moved. The small players are surely excited. As usual, which I have been saying for the past two weeks, daily chart shows a very overbought condition. So, be careful.
Malaysia Longterm Midterm Shorterm
KLCI Neutral (+) Up Up
Finance Neutral (+) Up Up
Construction Up Up Up
Plantation Neutral (+) Up Up
Property Neutral (+) Up Up
Mesdaq Neutral (+) Up Up
2nd Board Neutral (+) Up Up

No comments: