The Right Timing

KLSE COMPOSITE INDEX Technical readings Elliott Wave Daily chart: By using a short-term Elliott Wave count, the KLCI continues to unfold the various degrees of the impulsive A-B-C waves of its major corrective wave (B). The KLCI closed at 1,354.38 points last Friday. Weekly chart: The KLCI's weekly wave counts were in line with those of its daily wave counts. Monthly chart: A breach above 1,332 will change the bearish scenario. The KLCI is now shifting into its next bullish phase.
Elliott Oscillator The Elliott Trigger stayed below its zero region while its Elliott Oscillator continued to stay above its zero region.
Other Indicators The weekly and monthly stochastics stayed in their respective overbought levels. Its daily stochastics slipped into its oversold level.
Moving Average Convergence/Divergence (MACD) The monthly fast MACD stayed above its monthly slow MACD. Its daily and weekly fast MACDs stayed below their respective slow MACDs.
Expert Trend Index (ETI) The readings are "neutral" for the short term and "bullish" for the medium and long terms.
Profit Taking Index (PTI) Using the original Elliott wave count, PTI displays high readings of 99 and 80 on its daily and monthly charts respectively.
Displaced Moving Averages (DMA) The KLCI stayed above its monthly and weekly DMA levels of 988 and 1,277 respectively. It stayed below its daily DMA level of 1,364.
Divergence There were positive divergences on its daily MACD, Stochastics and Relative Strength Index to the KLCI's daily chart.
Make Or Break (MOB) The weekly MOB resistance is revised higher to its overhead resistance of 1,370-1,400.
Support The immediate downside support is revised to 1,330-1,360.
Resistance Its immediate overhead resistance is revised to 1,380-1,420.