As indicated by A, the KLCI ended higher on Friday, while remained in the uptrend channel of T1 and T2 line.Resistance for the KLCI remains at 1053 Fibonacci Retracement while the supports are at T2 and Bollinger Middle Band dynamic supports.
As shown on the chart above, the Bollinger Bands Width expanded 22%, with the KLCI above the Bollinger Middle Band. Therefore, the immediate outlook for the KLCI is still bullish biased. If the Bollinger Bands Width should continue to expand, more upside room for the KLCI is expected.
As indicated by B, total market volume declined 14.7%, and as a result, the volume is now below the 40-day VMA level. This shows that the market as a whole is relatively quiet, thus a sign of lack commitment of this uptrend. It is important to note that volume above the 40-day VMA level is one of the important condition for the KLCI to sustain its uptrend.As circled at C, the Stochastic continue rising, above 70% level, which is the short term bullish region. If the Stochastic should break below 70% level, it would be a signal suggesting a beginning of a technical correction.
Despite the KLCI closing at its new high, total market volume declined, instead. Therefore, unless the volume should pick up quickly and return to above 40-day VMA level, the lack of volume is a sign implying that the uptrend is likely to near its end.
综合指数 2009年 5月 22日
如图中箭头A所示，综合指数继续处于T1及T2上升趋势轨道（Uptrend Channel）里，这表示综指依然处于涨势中。综指当前的阻力水平是1053点胜图自动费氏阻力线，支持水平则是T2及布林中频带的动态支持水平。
如图所示，综指布林频带进一步打开22%，而综指继续的处于布林中频带以上，所以上扬9.7点或0.9%。接下来只要布林频带继续打开的话，那综指依然有上扬的空间，唯一的条件是综指不能跌破布林中频带这支持线。
如图中箭头B所示，虽然综指上扬，不过马股总成交量周五进一步减少14.7%, 所以成交量无法到达40天的成交量平均线（VMA）。
综指若要稳健的维持涨势中的话，那成交量高于40天的成交量平均值是重要条件之一，所以成交量短期内必须增加并且突破40天的成交量平均值，因为在缺乏承接力的情况下，综指涨势将难以维持。如图中C圈所示，随机指标（Stochastic）在70%的水平回弹，使到随机指标成功的保持在70%水平以上，这意味这综指短期仍然是维持强势中，直到随机指标跌破70%水平为止。若随机指标跌破70%水平的话，综指将有出现技术调整的风险。综指周五收市创新高，但成交量却不增反跌，这意味着综指虽然处于涨势，不过却有后继无力的迹象，除非成交量能近期内明显的增加，重返40天成交量平均值以上，那综指涨势才有望维持下去。
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