Amazing KLCI Rebound 2014

FBMKLCI breaking thru the midband

Strong rebound this whole week for KLCI. Yesterday saw huge volume and good run from penny stocks. Volume ~>100,000 lot for the top 20 stocks. Mostly penny stocks.

And for the last few minute the KLCI surged from +2 points to close at +12 points. Talk about window dressing.

Now KLCI has broken the midband, things will get interesting next Monday, where profit taking will surely come as KLCI is in GREEN mode continously for more than a week!! And upper bollinger band will be touched soon , and with the current bullish run, the possibility of a downward bounce off is very very likely.

See my earlier post on the route of touching the midband bollinger band.

http://www.knowthymoney.com/2014/10/will-rebound-continue-as-we-exit.html

Too soon to say that KLCI maintain its upward trajectory as it is need did not make newer higher highs. (possible lower highs?!) . Nevertheless, anyone who have the guts to buy during the selldown will be smiling and laughing to the bank!

+Positive news

US ended the QE under Yellen as reports of their economy improving.

Oil prices are dropping to USD3 gallon for US consumers

Bank of Japan increasing their QE printing activities!! Yen is slumping because of this which is good for Japan exports.

Hence, the global indexes is on a mini bull rebound! (esp Hang Seng! +700points)

Happy Halloween...and SMILE for KLCI

Below table from http://www.bloomberg.com/markets/stocks/world-indexes/

Green Green grass by the river.

AMERICAS

Index Name	Value	Change	% Change	Time
Dow Jones Industrial Average	17,390.52	+195.10	+1.13%	16:15:00
S&P 500 Index	2,018.05	+23.40	+1.17%	16:32:10
NASDAQ Composite Index	4,630.74	+64.60	+1.41%	17:16:00
S&P/TSX Composite Index	14,613.32	+154.63	+1.07%	18:20:04
Mexican Stock Exchange Mexican Bolsa IPC Index	45,027.52	+428.25	+0.96%	16:06:28
Ibovespa Brasil Sao Paulo Stock Exchange Index	54,628.60	+2,291.77	+4.38%	15:17:31

EUROPE, MIDDLE EAST & AFRICA

Index Name	Value	Change	% Change	Time
EURO STOXX 50 Price EUR	3,113.32	+77.42	+2.55%	18:03:04
FTSE 100 Index	6,546.47	+82.92	+1.28%	12:35:29
CAC 40 Index	4,233.09	+91.85	+2.22%	13:05:01
Deutsche Boerse AG German Stock Index DAX	9,326.87	+212.03	+2.33%	13:30:17
IBEX 35 Index	10,477.80	+214.10	+2.09%	12:38:00
FTSE MIB Index	19,783.99	+589.38	+3.07%	12:30:58
AEX-Index	411.32	+7.61	+1.89%	13:05:01
OMX Stockholm 30 Index	1,412.84	+15.66	+1.12%	13:38:57
Swiss Market Index	8,837.78	+118.75	+1.36%	12:31:40