On Thursday, the KLCI continues its upward movement, touching its daily high at 1576.23 points before closing at 1573.45 points, up 3.8 points or 0.24%. As indicated by A, the 14, 21, 31 EMA is still serving as the dynamic support to the KLCI uptrend, and the resistance for the KLCI is at 1600 psychological level.

As indicated by B, total market volume fell 16.71%, with volume below the 40-day Volume Moving Average. This suggests that the market is relatively quiet on Thursday. Meanwhile, losers outnumbered gainers (506 to 309) and this shows that profit taking activities is back in the market.

As indicated by C, the Stochastic stays above 70%, in the short-term bullish territory. This suggests that the short-term movement of the KLCI is still positive. If the Stochastic should fall below 70%, it would be a signal suggesting a beginning of a technical correction.

In conclusion, despite relatively stronger profit taking activities, selective blue chips were still lifting the KLCI, thus the uptrend remains intact, and the technical outlook remains at positive. However, the set back is still the lack of volume, as total market volume is below the 40-day Volume Moving Average.