Why is this a critical time? Well, it is critical that Dow stays above the 12,750-12,800 level. If it rebounds from here, there is a good chance that the final rally for the bulls is on the cards. However, should this level give way, then, it is TATA to the bulls for at least another 6months. I believe that this is a good level to get in, as the stop loss point is close by. Comparing it to the potential of 'returns' then you will see why this is a good level to get in.
STI needs to hold above the 3,300 level (which I think it will). LT players should accumulate around these levels as I foresee that the STI could retest its 3,906 high again sometime soon.
KLCI is at its all time high now. Follow through buying is expected to lift the index towards the 1,490, 1.618x Fibonacci extension target. Continue to buy on weakness. With construction and plantation counters already moved, property could be next. The 2nd Board is also looking good. Start looking for a pick up in volume in lower liners. They could be the next short term 'star'.
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