Tuesday, January 15, 2019
Market Outlook as at January 15, 2019
The market has been very dull in the past few days. The Direction Movement Index indicator are showing both +DMI & -DMI going lower with ADX also going lower. We will likely see listless sideways trading for next few days.
Chart 1: FBMKLCI's daily chart as at Jan 15, 2019_3.00pm (Source: Malaysiastock.biz)
The same listless trading may likely be seen in US markets too. For DJIA, the rebound may have run its course and the market is ripe for another 200 or 300-point dip.
Chart 2: DJIA's daily chart as at Jan 14, 2019 (Source: Stockcharts.com)
Based on the above, I believe that the opportunity for trading is fairly limited. If you choose to trade, you have to settle for quick/small profit. If you are buying for longer term, you can wait for further weakness. Good luck!