KLCI & Futures

KLCI - rose Thurs & is still positive but unless it breaks above the 970 strong resistance it still cannot be called bullish. While it is still within the DocTS strategy, the MACDH, DMI & ADX are still flat & not rising bullishly. This shows that the market is still uncertain if it can break the resistance. Maybe the new high in the Dow & rising Asian markets pushed up the CI but what we need is for the CI to break above 970 on strong volume, if not it will correct downwards first. Long term it is still bullish but some short term corrections will be healthy. But if it breaks above 970 then 980 & 1000 are the targets.


FKLI Futures - while signals appear similar to the CI, it appears slightly weaker. DMI & MACDH are turning flat while ADX is getting weaker indicating that the bullish uptrend may be getting weaker. Like the CI maybe the Dow & regional markets gave it a big lift. But this was on very low volume. Lets see what happens over the next couple of days. A fall below 959 will be bearish, a rise above 968 will be bullish. What will we see Friday?