Last week has been a slight bullish week for KLSE & other Regional Markets. With the US Goverment Announcing a 1 Trillion Dollars Stimulus plans, Domestic Factors like UMNO Election pushing the local Stock Market. It pushed the KLSE up to 895 highest.
However, resistance formed at 900 points and it now seems that the market is waiting for more news to decide its trend. US market was down -149 points on Friday night. Most likely KLSE will open slightly high but then soften down.
One thing I must say about the US Economy System. Its funny that the US Government gives Financial Aid to AIG, and then allow AIG to pay "Bonues" using US Taxpayers money when a Company is already making huge losses for many years. The top 3 Troubled AutoMakers in US takes private Jet to ask for Financial help from the US Federal Government, AIG pays Bonus to almost USD100,000 each to their top Management. I wonder what we will hear next? Unemployment Rate is coming close to 10% at Historical High since the Great Depression.
Remember there market is always goes up and go down, currently it lacks the sustainability of a Long Term Bullish market. Trading Range is between 830 to 915 for now. Just follow the Trend Signals using 5 Min and 15 Min chart.
Fast Stockastic & MACD would show that market is softening down for the follow Monday. However, do remember that External Factors will also influence the market. Just monitor your trades and put a stop loss.
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