As indicated by A, due to some rebound of blue chips counters, the KLCI was lifted up to 10.95 points in intra-day trading. However, right before the market closed, profit taking kicked in, and the KLCI was only managed to gain 2.46 points at 1447.27 points. As shown on the chart above, the KLCI is still staying below the 14, 21, 31 EMA dynamic resistance, thus suggesting that the downtrend remains intact. Support for the KLCI is at 1423.

As indicated by B, total market volume fell 53.75 %, due to the shortening of trading hour on the eve of festive holiday. Nevertheless, total market volume remains low, below the 40-day volume moving average, and this suggests that the market is still lightly participated.

As indicated by C, the Stochastic rebounded slightly, but still staying below 30%, in the short term bearish territory. This suggests that the short term movement of the KLCI is still weak. In conclusion, the technical outlook for the KLCI is still weak, and the downtrend is still intact.

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