On Thursday, the KLCI opened at 6.43 points lower, gapping down at 1640.29 points. Blue chips were heavily beaten with strong selling pressure, pushing the KLCI to its intra-day low at 1620.68 points, before closing at 1625.59 points, losing 20.52 points or 1.25%. As indicated by A, the KLCI is temporary supported by the 1625 support, and if the KLCI should fall below this level, the next support would be at the 1600 psychological level.

As indicated by B, total market volume reduced 12.73%, with volume below the 40-day Volume Moving Average. This shows that the market is still quiet, as investors are not feeling confident about the market, while continue to stay cautious.

As indicated by C, the Stochastic failed to stay above 70%, interrupting the short-term improvement of the KLCI. On the other hand, if the Stochastic should fall below 30%, it would be entering the short-term bearish territory.

In conclusion, out of the 30 KLCI constituents, 22 fell while only 5 ended higher, due to strong selling pressure. Meanwhile, there were 551 losers over 188 gainers, suggesting that the selling was dominating on Thursday. However, this is still not sufficient to call for a downtrend formation for the KLCI, unless the KLCI should break below 1600, in which the outlook would be turning cautious.