I really took a long break since last Raya season and casually looking at what has been happening in KLSE, looks like I didn't miss anything, or did I?
Foreign funds exited. Ringgit seems to be weakening against the stronger dollar could be one reason of the out flow. Banking sector financial data release reported okay.Watching the downtrend days, the only hope that I have is that it will halted /supported at lowest 887. My basic Elliot Wave counting shows this the lowest the index can go at this time. Incase this level violated (need to recount wave again and again), then I will say I will not expect anything bullish for the next few months.
Its a relief the index manage to rebound at 891 pt level, thanks to Maybank counter. A weak one indeed and as at today the market is still weak, the volume is disheartening, no new lead and no whatsoever
