As indicated by A, the FBM KLCI remains resisted by 1654.34 before the festive holiday, closing 0.3 of a point lower to 1649.49 points. For now, the KLCI remains in its uptrend movement, and it is only consolidating in a sideways manner. The 14, 21, 31 EMA is still serving as the dynamic support to the KLCI.

As indicated by B, total market volume fell 5.21%, but volume remains above the 40-day Volume Moving Average. This suggests that the market is participation is still active. However, with the KLCI being resisted, and together with the still active profit taking activities, the relatively high volume may actually implying a stronger selling pressure.

As circled at C, the Stochastic remains above 70%, in its short-term bullish territory. This suggests that the short-term movement of the KLCI remains positive.

In conclusion, the uptrend remains intact, with positive technical outlook. Only set back is the relatively high volume associated with the KLCI being resisted, which implies a some what stronger selling pressure. Nevertheless, we have yet to see any weakening signal for the KLCI.