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Oh KLCI, Where are we heading for tomorrow?

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(Tomorrow = 8th of September 09)

Remember my previous post regarding Is Our Bull of KLSE is dying? The answer is no.

But, my oh my, our bull is indeed very strong, even the Bear of moderate size that came and try to push the bull, but the bull resist the bear with all it’s might.

Classical Bull versus Bear of equal strength can be seen from my previous post, albeit low volume is seen from where i stop writing till today = shown classical short lived SIDEWAY TREND.

As can be seen from the daily candle, it’s been a gruelsome drama and full of fighting between the bear and the bull.

It all started to change since 3 september, when the news of unemployment rate in august 09 in USA is lower than the expected.

DJIA, Dow Jones Industrial Average, being the leader for the whole world, even for our bull & bear, give a strong white candle on 3rd september.

Subsequently the 3rd september of DJIA, follows with a bright looking white candle, eventhough small, it is enough to sent our bull of KLCI up and running another 5 points.

Then on 4th of september of DJIA went through the roof by 96 points!!

As said by the leader, it gave the bull the power so that, Today, 7th september, KLCI marked the testing of 1190 resistance level of KLCI with market went a bit frenzy with 11 points and break the resistance level to close nicely just at 1190.39.

We are looking for the direction for tomorrow trading day of 8th september, another day at the battlefield, but the leader is on holiday, so i asked the KLCI

Oh KLCI, Where are we heading for tomorrow?

if it is for me, i will answer = “The Three White Soldier Has Come, We Will Help the Bull to kill the Bear, so The Bull Can RUN as fast as it likes”

The White Candle formation at the most right hand side of the picture has formed classical Three White Soldier, marking continuation/ breakout towards uptrend.

Disclaimer : There is risk in trading or investing in the stock market. The views expressed in this presentation/material accurately reflect the personal views of the analyst(s). Investors/Trader are advised to make their own independent assessment of the contents of this presentation/material, should not treat such content as advice relating to legal, accounting, taxation, technical or investment matters and should consult their own professional investment advisers.

Written by abduljabbar

September 8, 2009 at 8:56 am

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