As indicated in A, the Composite Index attempted to regain some lost but soon was resisted by the T1 dynamic as well as the 931 WinChart Automatic Fibonacci Retracement. For the day,. KLCI lost 1.43 point closing at 926.49 point. Mean while, 10 days Bollinger Bands opened another 20% giving the KLCI more downside room. Nevertheless, immediate resistance for KLCI stood at 931.45 Fibonacci, while the support is found at 917.57 Fibonacci. (Study A)

Total market volume for the day stood at 3.09 million lots, 3.4% lower than yesterday's total volume. As shown in B, the recent market volume was relatively much lower and had been staying below the 40 days VMA level suggesting that the market participation was low. (Study B)

%D has now entered below 10% level which has again confirmed the over-sold condition. Therefore, we expect a technical rebound for KLCI very soon. However, since both lines of Stochastic are now situated below the 30% level, market sentiment for the short-term remain bearish. (Study C)

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