3 reasons why KLCI wont surge above 1,500 today.

1. DJIA declined 276.1 points or 2.3% overnight amid concern European leaders may have problems to raise funds to contain its debt crisis. My view: China may not necessary want to help Europe with free money, definitely they will ask for something, e.g. to allow free trade of China products into Europe.
2. Yesterday surge of 10 points happened when most Asian markets are down. E.g. Hang Seng down 154 points or 0.8% and Nikkei down 62 points or 0.7%. My view: Malaysia boleh? Maybe not today...
3. From technical point of view, KLCI Relative Strength Index or RSI has reached 66, very close to overbought level of 70. My view: With many issues of global market remain unresolved, KLCI short term bullish trend may have come to an end.