As indicated by A, not only that the KLCI did not pullback, it is making another historical new high, gaining another 3.98 points or 0.25%, to close at 1624.29 points. Since the KLCI is making a new high, there is no reliable resistance. But the 14, 21, 31 EMA continues to serve as the dynamic support.

Despite the KLCI making yet another historical new high, total market volume fell 10.57%. As indicated by B, total market volume remains above the 40-day Volume Moving Average, suggesting that the overall market participation is relatively active.

As circled at C, the Stochastic stays above 90%, which is the short-term over-bought region. This suggests that the short-term of the KLCI is at over-bought condition, but outlook remains positive.

In conclusion, despite the short-term over-bought condition, the L2 uptrend remains intact. Technically, if the KLCI should pullback, it would have to rebound from the L2 line or the 14, 21, 31 EMA dynamic support, in order to sustain this uptrend movement. Currently, the technical outlook for the KLCI is still positive.