As shown on the chart above, the Bollinger Bands expanded 15%, which is slightly small than yesterdays' 27% expansion rate. Nevertheless, with the KLCI above the Bollinger Middle Band, immediate technical outlook for the KLCI is still positive.

As indicated by B, total market volume fell 6.04%, but volume remains firmly above the 40-day Volume Moving Average. Therefore, the overall market is still actively participated, and provided that volume could stay above the 40-day Volume Moving Average, the market sentiment in general is expected to be positive.

As indicated by C, the Stochastic retreated slightly, but still remains above 70%, in the short term bullish territory. Therefore, the market movement for the short term is still positive, until the Stochastic should break below 70%.

Since the KLCI is now above the 20-day Bollinger Upper Band, it means that the KLCI is currently over-heated, thus a sort of technical correction or pull back is likely to take place in the near future. However, the uptrend remains intact.

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