US DJ Looking Weak - Possible Correction?

US Dow Jones has started to show signs of Profit taking last week after sideway for a while. This might be due to the Overheated Rally maybe over. It has been 4 months since it rally from the low 6500 Level.



KLCI & KLCI Futures Chart shows that the market is consolidating and the moving averages are crossing and hence forming a Consolidation and Sideway market and is looking for a new Market Direction.



From the 2 Charts, its also shows that the MACD and Stochastic is getting weaker and might be ready to come down. Should KLCI futures break the 1173 Support Level of Last week, expect the next support to be around 1165. Meanwhile, my trading Strategy is Short when KLCI Break 1189.50, CI won't go up fast when it breaks new high as we seen previously.

Break new high, then come down and rest, break new high, then pull back and rest again.