Wall Street continued to rebound after FED left rates unchanged. However, I believe that this rebound is about to come to an end very soon. For Dow, it has rebounded closed its 62% Fibo at 13,678. There is also a possibility that Dow could surpass the 62% to the 76% at 13,807. Hence, I expect the Dow to rebound to between 13,678 and 13,807 before it turns down again. Buyers beware!!!
As for the KLCI, the rebound could stop close to 1,327 level, its 38% Fibo. It may be still best for investors to stay out to the market a for a bit. If investors want to do 'something', it is still best to SELL into strength. DO NOT BUY at this moment. It is time for a vacation.
STI is slightly better. It could rebound to 50% which is at 3,481 or where the support turned resistance is. Still best to sell into strength.
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