Friday, August 28, 2009

Weekly Summary

Another week has gone by. Volume continues to shrink. Weekly momentum getting weaker. Weekly KLCI chart indicates that the trend is still up but with less strength now. If you look at the monthly chart, then you will see a doji. Not a good sign. I think that there shall be a correction towards 1150.

FBM KLCI Weekly Chart

Looking at the sectors, it seems that construction and property are holding up well:

Malaysia Monthly Weekly Daily Note
FBM KLCI Up Up Up (+) Weak up. Not at firm ground.
Finance Up Up Neutral Correction. Not at firm ground
Construction Up Up Up (+) Weak up. Not at firm ground.
Plantation Up Up Neutral Not at firm ground.
Property Up Up Up (+) Potential double top.
FBM ACE Up Up Neutral Potential H&S.

I'm just sitting tight with my positions. Selling the weak ones, and holding the stronger ones. Currently, I have no trade ideas.

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