The KLCI closed almost unchanged despite the early gains. As at the closing, the KLCI lost 0.57 of a point to 1246.30 points. Therefore, the break-out of T1 is still unconfirmed. Mean while, as pointed by A, Bollinger Band width contracted another 16% on Monday, suggested that the KLCI is still in a consolidation stage. This also implies that the KLCI is gearing up for another new direction and the direction shall be clearer when the Bollinger Band width expands. (Study A)

Total market volume declined 36% on Monday, with 183 million shares traded. As pointed by B, total market volume failed to stay above the 40 days VMA level. This inconsistency of market participation creates doubts in the sustainability of the KLCI upward movement. (Study B)

As circled by C, MACD histogram continued ticking lower on Monday, suggested that the Bullish signal is still losing strength. This shows that the KLCI is at a technical correction stage, thus the short-term movement is negative bias. (Study C)

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