The KLCI was trading at a narrow range on Thursday, gaining 1.69 points or 0.11% to close at 1585.44 points. As indicated by A, the KLCI is still above the 14, 21, 31 EMA dynamic support, thus the uptrend remains intact. Resistance for the KLCI stays at 1597.08 or 1600.

As indicated by B, total market volume fell 4.26%, with volume below the 40-day Volume Moving Average. Other than suggesting the market participation is low, the lower volume also implies that investor's confidence is still low, thus the inflow of fresh capital is low.

As indicated by C, the Stochastic rebound and breaks above 70% level by margin. If the Stochastic should stay above 70%, it would be a signal suggesting that the short-term movement of the KLCI is still positive. However, the Stochastic is secondary indicator, and could be over-sensitive sometimes. Therefore, the priority of the analysis should be based on the price trend, or primary indicators.

In conclusion, there is no improvement in market participation yet, thus the KLCI has not fully regained its positive momentum. Meanwhile, profit taking activities is still strong, as there are 462 losers over 260 gainers. Although the KLCI uptrend remains intact, this uptrend would be gradually weakening if there is no improvement in the market sentiment.