As for today, KLCI down 6.3% at 1090.82 in moderate volume of 1.49 billion shares with slightly above significant support at 1,110 (psychological). Benchmark now down at December 2006 level, completely erasing year's gains. Persistent selling in blue chips by foreign funds including construction, property and plantation stocks continue to weigh on the market. Based on previous movement (esp the selldown in 1994, a rebound on the sixth days of selldown). So lets see if the KLCI will rebound a bit.
Supported above 1,110
Overall, the KLCI bias: Downwards.
The projected upper bound is: 1,154.88.
The projected lower bound is: 1,067.35.