A buy signal was given in the daily chart. However, the weekly MACD is negative. Therefore, I don't think that this is a strong buy signal. KLCI may still go up, but it wont' go far. Is it because of the impending election (Sarawak and GE) that the market is kept afloat?
|FBM KLCI||Up||Up||Up (+)|
|Plantation||Up||Neutral (+)||Up (+)|
The Fifa world cup final is at its final leg. After Monday (I'm sure most of you will have a sleepy head on Monday), most probably KLCI stock market will be back to normal. The trading volume is generally on a decreasing trend since Dec 2009. By the way, watch out for a possible formation of a H&S on the KLCI chart. The left shoulder during Nov/Dec 2009, the head during Apr/May and another possible right shoulder that is forming now.