KLCI & Futures

KLCI - is still quite steady. Volumes are getting better & all indicators are still positive. However if it does not break 970 soon the bulls may get exhausted & give up temporarily. I cannot make a call at the moment so we shall just have to watch it for further signs. Dow Jones slipped slightly but it is still looking steady. Nothing to do but wait.


Futures are slightly weaker than the CI. The 7-day MAV has dropped below the 14-day MAV but prices remain above both these MAV. ADX is getting weaker & DMI is getting flat. H'ever the BB is narrowing & while index is still in the upper channel, something is bound to happen soon. If it narrows further there is a good chance that it may suddenly burst upwards but we cannot forsee what can happen. If it breaks downwards then short the market as the fall will be decisive.