Weekly KLCI chart shows the bear trend is in place. The F8 indicator turned down the week ending 25 Feb 2000, where the CI was at 1007.62. Today the CI stands around 919.82 at 12:45 pm. F8 is a reliable indicator for weekly and 60 minute charts. Wait for a turning point for a "buy" signal for stocks. A similar signal was given the week ending 17 Sep 1999 and 22 Oct 1999 where the CI was at 713 and 739 respectively.

The confirmation of the trend will be when F8 cuts above its own 5 week moving average. The last bullish crossing was on the week ending 3 Mar 2000, where the CI was at 948.31. This signalhowever is lagging in nature.

Given this scenario, our view of a further fall to 880 is reinforced. (see previous commentary)