Looking at the monthly chart, I can say that KLCI is not yet overbought. We can see that the sell-off and the subsequent rally looks like a V-shape. Based on weekly chart, the index looks tired. I cannot say whether there will be a sell-off at the moment. Why is there no severe correction when other markets are experiencing now?
The sector summary is given below:
|FBM KLCI||Up||Up||Neutral (-)||R=1.3k, S=1.15k. Overbought|
|Finance||Up||Up||Neutral (-)||R=10k, S=9k|
|Construction||Up||Up||Neutral (-)||R=250, S=220|
|Plantation||Up||Up||Neutral (-)||Broke out of downtrend.|
|Property||Up||Up||Neutral (-)||R=820, S=760|
My portfolio is currently consist of the following: Petroch-CA, HSBC-C5, Cnooc-C5, HKEX-CB, IJM-WB, Axiata-CB, Genting-CO, E&O-WA, IJMLand-WA, IOICorp-CJ, Tgoffs-WA and Gld-C1.