05/09/2026
📊 Weekly Market Technical Read: SPX | KLCI | STI — Week Ended 4 Sep 2026
This week shows a growing divergence across the three markets. STI has regained strong upward momentum (thanks to the banking stocks), SPX remains in consolidation near its highs, while KLCI has weakened further and is testing an important support area (OPR remained at 2.75%).
🇺🇸 SPX: The primary bullish trend remains intact, but the index continues to consolidate below the 7,800–7,850 resistance area. RSI at 55.32 remains above its signal line of 54.26, suggesting neutral-to-mildly positive momentum rather than an overbought market. For now, 7,600–7,850 remains the key range to watch.
🇲🇾 KLCI: The weakest of the three this week. The index has fallen to 1,708.10, below its 20-day MA of 1,729.61 and very close to its rising 200-day MA around 1,699. RSI has dropped sharply to 42.55, below its signal line of 52.23, confirming weaker short-term momentum. 1,695–1,700 is now a crucial support zone, while 1,725 becomes the immediate resistance.
🇸🇬 STI: The standout performer. After consolidating around 5,700 last week, STI has broken higher and closed at 5,801.97, successfully clearing the previous 5,775–5,800 resistance area. RSI has strengthened to 65.07 and remains above its signal line of 60.06. Momentum is bullish without yet being excessively overbought. The next range to watch is 5,700–5,875.
For next week, the key question is: Can STI extend its breakout toward 5,875, can SPX finally clear 7,850, and—most importantly—can KLCI defend the critical 1,695–1,700 support zone?