Despite the negative longer term view, the current rebound in FBMKLCI is surprisingly strong- albeit confined to blue chip stocks. If the rebound can sustain, FBMKLCI may recover back to the 30-day EMA line at 1640-1650. We have seen a similar rebound in December 2014. The indicators, MACD and Slow Stochastics, are poised to hook up.
In view of this, I would recommend that you hold back your selling for better prices. For those, who have been waiting to get into some blue chip stocks, you may accumulate a bit if their prices have not run up too much. Good luck!
Chart: FBMKLCI's daily chart as at Aug 26, 2015_3.00pm (Source: ShareInvestor.com)
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