As indicated by A, the KLCI opened at 1653.62 point, but as it was approaching the 1655, some profit taking started to take place, and also heavy weight plantation stocks pulled down the KLCI losing up to 10.59 points. Fortunately, the KLCI started to rebound after mid day, and at the close, the loss was narrowed down to only 1.28 points at 1649.75 points.

As indicated by B, total market volume remains below 40-day Volume Moving Average, and this is still showing that the market is relatively quiet as investors are still not feeling confident about the local market.

As indicated by C, the Stochastic retreat a little after touching 100% yesterday. However, it is still staying above 70%, as this is suggesting a short-term bullish movement for the KLCI. The short-term positive movement is expected to carry on until the Stochastic should break below 70%.

In conclusion, since rebounding from 1600, the KLCI has continuously rising for 6 trading days. Coupled with the KLCI nearing 1655 resistance, some profit taking is only normal. However, despite the short-term bullishness, the KLCI has yet to resume its previous uptrend.