Categories
FBMKLCI

FBMKLCI

  1. I have written extensively that the market is weak and poised to go down. (Tan Teng Boo of the Capital Dynamics fame has been waiting for this bear market for 10 years now I think)
  2. It is not possible to know the extent of the drop (only via hindsight) but we can deduce and infer if the market is strong or weak and what is the probability of the next move
  3. Now that the market has broken down, we will need to await for clusters of consolidation, which will signal a reversal. (this can take from 6 months to 2 years, depending)
  4. We are already in a bear market, which is long overdue.
  5. In 2007/08, the support line was around 800

Categories
FBMKLCI

FBMKLCI

  1. On 3 Feb, long before any political fiasco, I wrote that the market has broken the 1550 line and chance favours the downside to the 1450 area
  2. Unlike political parties, charts rarely lie and they dont reverse their position in 1 day (since it takes a long period of time to build the cause for the move, i.e. up or down)
  3. Exactly after 1 month from my last posting, the chart makes its first flirt on the 1450 line
  4. As i said previously, let’s see what happens now – a consolidated base will interest me of a reversal OR another downmove will resume