Market Outlook as at May 7

The anticipated market correction has not materialized. Since the last post, the KLCI has made a new high, surpassing the April 17th high of 1334. The twin MACD have hooked up & are poised to do positive crossovers. The Bollinger Band has expanded nicely, indicating continuation of the uptrend rally. I have re-drawn the short-term uptrend line, with support at 1340 level.


Chart: KLCI's daily chart as at May 4 (courtesy of Quickcharts)