As indicated by A, the Bollinger Bands Width started to contract, suggesting the KLCI might be consolidating again. If the KLCI should break below the Bollinger Middle Band, it would be a signal suggesting a technical correction.

Resistance for the KLCI is at 1100 level while the support is still at the T2 uptrend line. If the KLCI should break below the T2 uptrend line, it would suggests an end to the uptrend, and the next support is at 1000 level.

As indicated by B, total market volume did not increased on Friday, but still remain above the 40-day VMA level. Therefore, the overall market is still actively participated. If KLCI should consolidate, volume is likely to decline as investors choose to stay on the sidelines.

As circled at C, the Stochastic retreated slightly, but remain above 70% level. Therefore, the short term bullish signal is still intact, with some sign of a technical correction or consolidation in the near term. If the Stochastic should break below 70%, that would be a signal suggesting a beginning of a technical correction.

The KLCI continued its uptrend, but without an obvious expansion of the Bollinger Bands Width; furthermore, most of the most-active counters are non-blue chips counters, this maybe a sign of a weakening uptrend. Nevertheless, with the T2 uptrend still intact, theoretically, the KLCI is still trending up.

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