As you know, I have been saying that there is another leg upwards ages ago... this up leg has yet to take place and it should have taken place by now... I am now revising the call without this up-leg.
Dow - the up leg appears to have been stopped by its 50-day SMA. There is still a small chance that it could reach 12,900. Nevertheless, I expect more downside from here or from 12,900. This bounce is likely over... if you are waiting to buy, best to wait a while longer... maybe up to end of April...
STI - 3,268 appears less likely... get ready for the fall towards the 2,746 level again
KLCI - a break of the Jan low of 1,340... it could fall further to 1,280-1,289 next.
Best to stay away if you want to buy the market... If you are willing to short the market, there are opportunities.. Pls note that - Shorting is not allowed in certain markets. Shorting is also dangerous and should only do so if the available excess cash.
Hey ball, where have you been? :O
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