Saturday, 24 November 2012

Bearish Sectors Increasing

Composite Index (KLCI) = Bearish (It turned Bearish this week) 

1. Construction Index = Bullish 
2. Consumer Index = Bearish (It turned Bearish again this week) 
3. Finance Index = Turned Bullish Again
4. Industrial Index = Bearish
5. Industrial Products Index  = Bearish (It was back to Bearish agin this week) 
6. Plantation Index = Bearish (Broke Recent Low) 
7. Property Index = Turned Bullish Again 
8. Technology Index = Bearish (Broke Recent Low) 
9. Trading And Services Index = Bearish 

Six out of nine sectors are bearish. With KLCI also turned bearish, the whole market of Bursa Malaysia is not looking good. Moreover, despite the recent low of KLCI remained higher than the previous low, the low of MACD is getting low (a bearish divergent emerged). There is high chance that the market could head lower. 
Note : I am using GPMMA (Guppy Multiple Moving Averages) for the above analysis. For more information, please check out : http://gpmma.blogspot.com/2012/11/gpmma.html

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