Showing posts from May, 2015

FBM KLCI Weekly - Firmer Dow lifts the FBMKLCI

FBM KLCI – Temporary support is at 1,795.Market Action
The FBM KLCI rose 4.27 points WoW to close at 1,811.92, as some minor buying activities persisted. However, volume turned down from 1.75b to 1.54b shares.
The index traded from 801.27 to 936.63 (Oct 2008 to Apr 2009), but broke above 936.63 (Wave a/B) in Apr 2009. Its Wave b/B low was 836.51. We traced out a Wave C/B (of a 3-3-5 Flat) rebound, and the extended Fifth Elliott Wave (EW) of the major Flat v/C/B-leg rise from 801.27 stalled at 1,896.23 (8 Jul 2014 all-time high). After 1,896.23, the next swing low was 1,837.28. Its next rebound stalled at 1,879.62.

A swing low of 1,766.22 was then seen, but its rebound stalled at 1,858.09 (3 Nov). The index plunged to its low of 1,671.82 (Dec 2014). The rebound from that low then stalled at 1,831.41. The index then rose from the 1,774.30 low only to stall at 1,867.53 on 27 Apr 2015. The index’s next temporary low was seen at 1,795.16 (13 May 2015).FBM KLCI Weekly Chart

What is Our S…