Market Outlook as at Jan 5, 2015

From the 3 charts below, we can see that the market ended the last week of 2014 on a weaker note. A close examination will reveal that the market rose steadily from Dec 22-29 albeit on lower volume. After it made a high of 1770, the volume picked up. The increased activity on the last 2 days (Dec 30 & 31) reflects profit-taking or distribution. If no fresh buying surfaces in the next few days, the market is likely to commence its slide. Will the market hold above 1700? Will it revisit the low at 1670-1680? At the time of writing, FBMKLCI was down at 1738.

We will have to wait & see.


Chart 1: FBMKLCI's daily chart as at Jan 2, 2015 (Powered by ShareInvestor.com)


Chart 2: FBMEmas's daily chart as at Jan 2, 2015 (Powered by ShareInvestor.com)


Chart 3: FBMSCAP's daily chart as at Jan 2, 2015 (Powered by ShareInvestor.com)

Note:
In addition to the disclaimer in the preamble to my blog, I hereby confirm that I do not have any relevant interest in, or any interest in the acquisition or disposal of FBMKLCI.