What's the indication?
1. Market sentiment may have turned positive, eyeing 1,500 this week which is also its 5-year average historical PE of 16.2x. Today should try to test 1,490 points.
2. Although Europe problem has not been fully resolved, market seems to have priced in the risk from Europe. Greece is gone case, but as long as Italy does not go into bailout, things should be OK.
3. Some of the KLCI stocks which RSI still below 50:a. AMMB (44)
b. Maxis (45)
c. Maybank (46)
d. Hong Leong Bank (48)
e. MMC (48)
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