KLCI so bullish today

Today KLCI up with a very long white candle which we seldom see this kind of candle in the recession period. MACD also blue line cross red line, Stochastic also shows blue line cross red line. 

This short term rise mainly may due to the UMNO elections which going to held on this week. So, within this week, we might expect KLCI will floating about 880 level.

In UMNO elections week, UMNO linked stock will have more volume. 

The next event that investors care are Najib become our new PM and also by elections. This may cause KLCI volatile.  

To those who have bought in some stock last week, this week maybe is a good time to sell it out to lock your profit. Once by election come, I would think there maybe is another chance to collect again. This is only consider the local event that will happen. It is not include something happen globally or in U.S market.

In U.S market this week, we shall see following key event that may impact DJIA.

Monday - Existing home sales release for Feb

Wednesday - New Home Sales, Durable Goods Orders, Crude Inventories for Feb

Thursday - Initial Claims for the previous week

Friday - Personal income and spending report release for Feb

Existing home sales and new home sales report might impact a lot to US market to a downtrend this week. But would it reflect to our KLSE? 

This we need to depends on local investor whether UMNO election influence is heavier or US stock indicator impact the most.