FKLI - Listless But With More Bearish Bias -1/13/2014

I sold on last Monday as price went below the previous Friday signal day low. Both the Stochastic and MACD continue to fall but price seems to be caught in another directionless mode. The ADX has been falling and it may go below the 20's signal line. The DMI has turned negative but it is wriggling like a worm. Both these 2 are indicating a lack of trend in the market.

I am placing my stop at 1842 for now but when if price is to go further down, I would change my stop to the bottom band.

The weekly chart has flashed an initial sell signal as price closed below the top band with the Stochastic gone negative. If I am trading the weekly chart, I would sell if price goes below last week's low of 1817. The MACD remains positive but has already tilted its head and it may turn negative by the coming week. The ADX has turned flat which may be hinting that the prior trend has stopped.

With the presence of a bearish divergence at both the daily and weekly chart, any new buy signal should be treated with extra caution and any new sell signal should be participated with more enthusiasm. With the impending economic adjustments, the new year should be a tough year for Malaysians (at least for the initial few months), so I am more bearish biased on the market.