Malaysia Boleh!!!

I’m sure it is quite disappointing for our local players that long our FKLI on previously. With the rally of Dow Jones for around 2%, our market again doesn’t show any buying interest from investors. When Dow Jones plunged 2%, there is no panic selling, when Dow Jones rally 2%, there is no enthusiasm in buying, so what does it means? Is it investors are totally out of connection with oversea market and they don’t know the performance of other markets?

I remember in last time, the movement of 1% in Dow Jones can easily cause our market to gap up or gap down more than 10 points, however, when looking at the chart now, it definitely quite disappointing and I’m sure this is the reason why more and more experienced traders unwilling to trade our market. The strongest resistance in FKLI still capped at 1350 and the support establish at 1340 with higher low pattern as you can see from the chart. I assuming the market was looking for a break up in nearer term corresponding with the breaking high of US market. As I looking back the chart in Dow Jones, the previous high in April was around 11200 while Hang Seng was 22000. To make a comparison, Dow Jones yesterday closed at 10322 and Hang Seng now doing around 20800 which means Down Jones need 900 points to go whereas Hang Seng still lack of 1200 points to break high. But looking at our market, we just less than 10 points to break previous high, so I really proud to be a Malaysian and Malaysia really boleh!!!