FBM KLCI 05 Sept 2012
As indicated by A, the FBM KLCI remains resisted by the 1655 resistance, losing 13.10 points or 0.79% to close at 1641.01 points. The KLCI is testing the 14, 21, 31 EMA dynamic support, and if the KLCI should break below the dynamic support, the current uptrend would be temporary interrupted.
As indicated by B, total market volume increased 1.39%, with volume above the 40-day Volume Moving Average. This suggests that the market is still actively participated. However, since the score board is recording 669 losers over 156 gainers, selling pressure is still strong as investors are actively taking profits.
As circled at C, the MACD histogram failed to sustain its Rounding Bottom formation. Meanwhile, the MACD line is gradually falling, while still above the zero level. Therefore, this suggests that the medium to long term movement of the KLCI is still on the positive side.
In conclusion, since before Hari Raya Puasa holiday, profit taking has been active, and on Wednesday, the profit taking is even more obvious. For now, the KLCI is unable to extend its uptrend, and if the KLCI should break below the 14, 21, 31 EMA, the uptrend could temporary come to an end. But even so, it does not mean that the KLCI would immediate reverse to a downtrend. In fact, the KLCI could still consolidate further, unless the KLCI should form Lower-highs, which by then, would show some weakness of the KLCI. Nonetheless, next support for the KLCI is at 1625, followed by the 1600 psychological level.
富时大马综合指数 2012-09-05
如图中箭头A所示，富时大马综合指数继续在1655点遇阻后按日下跌了13.10点或0.79%，以1641.01挂收。综指目前正试探着14、21、31天EMA的动态支持线。若接下来综指跌破14、21、31天EMA的话，那综指目前的上扬格局将会暂时受到中断。
如图中箭头B所示，马股总成交量增加了1.39%，这使得成交量继续维持在40天的成交量平均线（VMA）的水平以上。这表示市场的交投还是属于活跃的。不过，由于周三马股下跌的股项高达669只，而上扬股项只有156只，因此活跃的交投也暗示着投资者强烈的套利活动。
如图中C圈所示，平均乖离振荡指标（MACD Histogram）的圆底（Rounding Bottom）图形因综指忽然下跌而受到了破坏。另外，平均乖离线（MACD Line）缓缓下跌，不过还是维持在零轴以上，这表示综指中长期的走势还未出现转弱的讯号。
总的来说，从开斋节假期前夕至今，马股的套利气氛都是相当的浓郁，而周三的套利活动更为明显。再配合综指仍然无法突破1655点的阻力水平，马股涨势也暂时未能延续下去。接下来若综指失守14、21、31天EMA动态支持线的话，那目前的涨势将暂时告一段落。不过，涨势受到中断并不表示综指将立即转为跌势，这是因为综指还是能够维持在横摆的盘整格局里，重新的酝酿趋势。除非综指接下来再形成较低峰（Lower-highs）届时才有转弱的迹象。无论如何，综指下一道支持落在1625点，然后就是1600点的重要整数心理水平。
HAPPY TRADING
