The deadlock in raising the US debt ceiling raised concerns for a default in the US's credit rating and hurt the Asian market sentiment
Locally, the local bourse as indicated by FBMKLCI is still bullish with 50 MA above 200 MA and both are still slopping positively. Furthermore the ascending trendline is still intact.
Today the index fall but the volume traded is still less than the previous two days.
With 20 MA at neutral position, the index is being tested by the 10 MA.
The US debt problem has not affected the local bourse severely. Today fall in index is more of a breather from almost a 10% rise of the index last week.
