Last month, I shared my views on KLCI index here.  In that article, I asked whether is it peaking and should you sell.  At the time, the KLCI index shown at the charts was 1603.  My observation was a simple one - when tuning out to 30 year monthly candle charts, there's nothing to do but just sit tight.   

What has transpired over the 3-4 weeks since then?

1 word - "noise", ie. long term investors can ignore.

(short term traders will make comments like ... it subsequently went up as high as 1,632.  Then, fell down to a low of 1,595.  It is now back up to 1,617.  Basically zig up, zag down and zig back up in what appears like a consolidation pattern.   There is also a potential bear trap when it broke below 1,600 but buying pressures quickly came back in to push the index above 1,600.  Bears and bulls are still fighting in this consolidation zone, but the trend is unmistakeable bull trend, perhaps a bit too fast and so, some consolidation is healthy.  We are in/approaching the generally higher earnings QR season too (at least for my 50+ holdings) and market needs to make up its mind. etc.  .... but all these are "noise" for the long term growth/value/dividend investor).

How do we know for sure it is "noise"?

Compare the updated Monthly Chart below, vs previous article's.  

To me, they look awfully the same, hence "noise". 

Disclaimer:  As usual, you are fully responsible for your trading and investing decisions.