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[KLCI] 1500 almost! (or is that a possible top?)

Okay, it looks like we cannot make it today.....

How the market respond near this level will be critical, we had a rejection 2 weeks ago, if market fail here again it could be a classic double top formation.

What do you guys think?

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The market is definitely losing steam as it just completed a "Shooting Star" today and if you look at the simply MACD and RSI technical readings, divergences between the new price highs and the MACD and RSI charts suggest a correction is imminent. Though trend remains up, probably setting up opportunities ahead to buy.
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dun hold over night, open interest tend b to b high but almost observe to the trend.
happy trading trading
pandora
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KLCI didn't move down today to confirm the shooting star but it did closed with a doji today, signaling uncertainty and also increases the chance of a correction. Not a spot to be greedy now.
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okay... market has stayed above 1,500 for two days now and today it finished with a doji just hugging the upper bollinger band after gapping up... so, it is still showing signs of uncertainty and weakness even though it's moving higher, which is consistent with MACD and RSI studies which is continuing its divergence between the reading and the price actions. It haven't topped yet. Have to see what happens tomorrow, but don't be surprised if it's the beginning of a correction..

US midterm Nov 2, historically now is a bullish season, still hoards of money on the sideline, maybe these are still positive factors for the market.
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I think it has been pretty promising development after clearing 1500. At least we did not revisit sub 1500. xiaosong is right about seasonality going into end of year and CNY period. I think my "possible double top" is out of the question now, most like sideways-bullish from here.
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All u fella says is all short term, long term, index will go higher and higher due to economy conditions recovering though it may climb higher but slowly, 1600 is not impossible long term speaking.
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Agree. Long term Malaysia is going to do really well. 1600 is probably next year's target. Though, the market swings some times create opportunities to get into a market relatively cheaper and hence better returns.

I believe it all depends on your strategy. If you're a buy-and-hold guy for 5 or 10 years or longer, short term swings are probably not a big concern for you. And yet, if your trading window is much shorter term like weeks or months, then being careful not to get too greedy when the market constantly making new highs is probably a valid consideration as well.

And hey, like John Maynard Keynes famously said, in the long run, we are all dead. :)
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hehehe, my believe: nothing is certain in the long erm. At least in the short term, recent actions have predictive power for the immediate future.

ya I know...my broker loves my business :)
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