On Tuesday, 9th of May, 2006, the Composite Index ended mixed, closing 0.98 points higher to 966.88 points. As circled by A, the Composite Index formed a “spinning top” candle suggested a reversal, which at the moment is a pull-back effect is due to happen. (Study A). However, with the Composite Index remained support by the ascending moving averages, the outlook of the Composite Index remained on the positive side. Nevertheless, support for the Composite Index is at the 10 days Bollinger middle band dynamic support as well as the 14 days EMA while the 954 would be the important support level. Immediate resistance for the Composite Index is now at 970.5 points.

As pointed by B, the total market volume made another all time new high with 2.189 billion shares, a 3.8% higher than yesterday's volume. Again, the high volume on Tuesday suggested a mixed sentiment of the “spinning top” candle, and therefore, this has further reinforced the resistance at 970 level. (Study B)

As circled by C, the WinChart RSI remained situated in the bullish region. As long as the WinChart RSI could maintain its position above the bullish region (above 70% level), the market sentiment of the KLCI is still bullish. (Study C)

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