MALAYSIA DERIVATIVES EXCHANGE >>> FKLI and FCPO

High Rolling FKLI Spot Speeding Towards Record Year End Close

Heavy rollover activities and spreads enable the Spot contract to close higher in tandem with the cash market.

FKLI is set to end the year on a strong footing

Recommendations (FKLI Dec)

BUY ON DIP / WEAKNESS

Place a stoploss for risk management

Suggested Target >>> 1550 >>> Cutloss 1522

CPO Snap 7-days Rally

Crude palm oil (CPO) futures on Bursa Malaysia Derivatives retreated from their seven-day rally with traders taking profits after prices hit a fresh 33-month high yesterday.

At the close, January 2011 lost RM64 to RM3,781 per tonne, February 2011 shed RM53 to RM3,765 per tonne, March 2011 dropped RM45 to RM3,733 per tonne and April 2011 declined RM42 to RM3,708 per tonne.

Turnover increased to 11,599 lots from 10,730 lots recorded on Tuesday while open interest declined to 88,107 contracts from 88,309 contracts previously.

On the physical market, January South shed RM30 to RM3,780 per tonne.

HAPPY TRADING

BURSA MALAYSIA >>> Pre-opening Outlook 29/12/2010

Narrow Range Expected For Malaysian Shares
The Malaysian stock market has finished higher now in back-to-back sessions, adding just 6 points or 0.4 percent in that span. The Kuala Lumpur Composite Index moved just above the 1,515-point level, and analysts are forecasting a steady if unspectacular start to the trading day on Wednesday.

The global forecast for the Asian markets suggests little activity ahead of the year-end holiday, with mixed economic data out of the United States adding to the cautious sentiment. Gold is up as a safe haven, along with oil and financials, while the technology stocks and properties may fall under pressure. The European and U.S. markets were mixed in light volume and ultimately finished largely unchanged - and the Asian markets are expected to follow that pattern.

The KLCI finished slightly higher on Tuesday, thanks to limited upside from the financial shares, industrial issues and plantation stocks.

For the day, the index climbed 5.72 points or 0.38 percent to finish at 1,517.44 after trading between 1,509.55 and 1,525.99. Volume was 822.88 million shares worth 1.22 billion ringgit.

Among the actives, Sime Darby added 0.5 percent and Kuala Lumpur Kepong, Public Bank, Hong Leong Financial and Genting also finished higher. Maybank and Tenaga were unchanged, while CIMB Holdings ended lower.

HAPPY TRADING

Technical Anjalysis : 综合指数 2010年12月27日 / FBMKLCIO 27/12/2010

综合指数 2010年 12月 27日
如图中箭头A所示，富时综合指数基本上横摆，综指只微扬0.14点，以1511.72点闭市，所以综指当前的阻力水平不变，仍然维持在1532点的费氏线，支持水平则是1500点的心理支持关口。

如图所示，综指目前仍然处于由T1及T2趋势线组成的三角形内，这意味着综指目前正处于一个调整巩固格局中，所以T1亦是综指当前的动态阻力线，T2则是支持水平。

如图所示，布林频带（Bollinger Bands）打开2%，不过打开的幅度不大，所以虽然综指已处于布林中频带以上了，综指仍然未出现上扬的走势。一般上，布林频带必须明显的打开，再加上综指保持在布林中频带以上，综指才能确认出现上扬的趋势。

如图中箭头B所示，马股成交量减少7.43%，所以成交量继续的低于40天成交量移动平均线（VMA），这显示市场交投减少，不过这在综指横摆巩固时是正常的现象。

如图中箭头C所示，随机指标（Stochastic）继续在稍微高于70%的水平横摆，这显示综指的短期走势正处于偏强的格局，不过由于布林频带还未明显的打开，所以综指的短期走势仍然未大举上扬。
总的来说，综指目前正处于一个三角形的巩固状态，通常综指将继续目前的走势，直到综指突破此三角形为止：若综指上扬突破T1的趋势线，综指将有望恢复上扬的走势，反之若综指跌破T2的支持线，综指将有形成跌势的风险。

FBM KLCI 27 December 2010
As indicated by A, the KLCI is basically still consolidating in a sideways manner, and on Monday, it gained 0.14 of a point to close at 1511.72 points. Therefore, resistance and support remains unchanged in 1532 and 1500 respectively.

As shown on the chart above, the KLCI is still consolidating within the T1 and T2 Triangular Pattern, and the consolidation is expected to stay intact until any break out. T1 line serves as the dynamic resistance while the T2 line is also another support.

Meanwhile, the Bollinger Bands expanded 2%, but this expansion is insignificant, and therefore, not valid for any signals consideration. Nevertheless, with the KLCI above the Bollinger Middle Band, the immediate technical outlook for the KLCI shall stay positive.

As indicated by B, total market volume fell 7.43%, with volume below the 40-day Volume Moving Average. This suggests that the market is relatively quiet. But it is usually normal to see lower trading volume when the market is moving sideways.

As indicated by C, the Stochastic remains above 70%, in the short term bullish territory. Therefore, the Stochastic is still suggesting a short term bullish biased movement for the KLCI.

In conclusion, the consolidation within the T1 and T2 triangular pattern of the KLCI remains in place, until a valid break out above the T1 line or below the T2 line.

HAPPY TRADING

MALAYSIAN DERIVATIVES EXCHANGE >>> FBMKLCI Futures

FKLI OUTDO FBMKLCI IN A HOLIDAY-MOOD MARKET

Spot Goes Premium Over Cash

FKLI prices remain lethargic and non-agressive ahead of the Xmas weekend which is the norm as most traders are already in celebrity frequencies. There may be little variations for both the cash & futures market but there is nothing bearish about their prices. Activities should resume when traders return after the holidays.

ZL have a feel >>> this is gonna be a dull & boring Friday. :P

Be optimistic of the bulls attacking the resistances next week. Whatever happens in Wall Street over night won't have much bearings on price fluctuations. Tight range trading anticipated. The EMAs should provide sufficient supports ahould the bears decide to launch a sneak attack when the bulls are out to celebrate. Any sudden dip in FKLI prices will been an opportunity to accumulate LONGs.

GOODLUCK2ALL

&

MERRY CHRISTMAS

WALL STREET Pre-opening >>> Waiting for Crush of Data, Futures Pause

Muted Actions Expected Ahead Of Shorten Week

Stock futures were little changed Thursday morning as Wall Street anxiously waits for the end of the holiday-shortened trading week and for a flood of new reports on the state of the economy.

As of 8.12pm (Malaysian Time) the Dow Jones Industrial Average futures rose 6 points to 11501, the Standard & Poor's 500 futures sank 0.20 points to 1234.30 and the Nasdaq 100 futures slipped 0.75 points to 2235.25.

Even though Thursday's session is expected to be a slow one due to the Christmas holiday, traders who do show up for work won't have a shortage of economic indicators to digest as the government squeezes a slew of data into the day
The data-heavy day comes as the bulls look to continue Wall Street's hot December, which has seen the S&P 500 and Nasdaq Composite rally for five straight days and the Dow land at levels unseen since August 2008.

The premarkets are likely to be influenced by an 8:30 a.m. ET new report expected to show initial jobless claims inched up last week to 420,000 from 415,000. Continuing claims are also expected to rise to a level of 4.14 million.

Likewise, the Commerce Department is scheduled to give an update on durable goods orders, which measure purchases of big-ticket items like refrigerators. Economists expect orders declined 1.1% in November, compared with a decline of 3.4% in October. Excluding transportation, orders are expected to rise 0.8%.

Also ahead of the open, the Labor Department is set to issue a new report on personal spending and income for November. Economists forecast spending rose 0.5% last month, building on October's 0.4% rise.

Meanwhile, Wall Street will have an opportunity to analyze two economic reports after Wednesday's open, headlined by the Commerce Department's new home sales index. Sales activity is expected to have increased in November from a rate of 283,000 annualized units to 300,000 units.

Consumer discretionary stocks like Ford and Macy's could be influenced by the December University of Michigan/Reuters consumer sentiment report, which is expected to be revised up from 74.2 to 74.8.

Global Markets
The U.K.'s FTSE 100 rose 0.08% to 5988.51, France's CAC 40 slipped 0.26% to 3909.71 and Germany's DAX inched up 0.08% to 7073.44.

In Asia, Tokyo's Nikkei 225 was closed for a holiday, Hong Kong's Hang Seng declined 0.62% to 22903.00 and China's Shanghai Composite lost 0.79% to 2855.22.

HAPPY TRADING

WALL STREET : Bulls Ready To Flurry December

Another Higher Close Above 11500 For The Dow
SPX, COMP Extend Winning Streak to 5 Days
Powered by streaking financial stocks, Wall Street quietly landed on Wednesday at levels unseen in more than two years with the S&P 500 and Nasdaq notching their fifth rally in a row.

Traders seem determined to make this week a merry one on Wall Street, with stocks continuing to trudge higher today. In fact, all three major market indexes rose to fresh multi-year peaks, despite a general lack of bullish drivers. The day's highly anticipated third-quarter GDP revision fell short of expectations, and the latest round of housing data was mixed, at best. However, a strong showing from the financial sector helped carry the market higher. Regional banking issues rallied after Hancock Holding (HBHC) agreed to acquire Whitney Holding (WTNY), which stoked speculation about additional M&A activity within the group. Further up the financial food chain, several titans of Wall Street -- including Goldman Sachs (GS), JPMorgan Chase (JPM), and Wells Fargo (WFC) -- were buoyed by price-target boosts from Oppenheimer. Against this backdrop, the S&P 500 Index and Nasdaq Composite each tallied their fifth straight winning session.

MARKET QUOTE : “The absence of sellers and tremendous resiliency of the market have been the story of the last two weeks now. Nothing can make the market overall go down.”

The Dow Jones Industrial Average (DJIA – 11,559.49) collected a gain of 26.3 points, or 0.2%, as 22 of its 30 components closed higher. Bank of America (BAC) and JPMorgan Chase paced the advancing equities, while Hewlett-Packard (HPQ) led the eight laggards into the red. The Dow peaked today at 11,566.99, marking it highest price since Sept. 9, 2008. The blue-chip barometer has now notched two consecutive daily closes above the psychologically significant 11,500 level.

The S&P 500 Index (SPX – 1,258.84) tacked on 4.2 points, or 0.3%, to mark its fifth straight day of gains. The SPX tapped an intraday high of 1,259.39 -- territory the broad-market bellwether hasn't explored since Sept. 19, 2008. Finally, the Nasdaq Composite (COMP – 2,671.48) rounded out the glad tidings by adding 3.9 points, or 0.2%. The COMP's session peak of 2,675.26 was its highest perch since Dec. 28, 2007 -- nearly three years ago. Like the SPX, the COMP has gained ground in each of the past five trading days.

Yet it would be hard to put too much credence into Wednesday’s gains as volume was exceedingly low amid the holiday-shortened trading week. The markets also traded in a very tight range, with the Dow moving just 38 points between its high and low.

MARKET QUOTE : “There is some mixed news out there. Maybe the markets are getting ahead of themselves even though there are a lot of good reasons why stocks should be going up,”

For every nine stocks that rose, six fell on the New York Stock Exchange, where volume was 784.4 million, or 75% of its 30-day average.

CRUDE OIL Gushes 0.66 Higher
Crude futures followed suit with stocks today, notching modest gains as traders reacted to the day's regularly scheduled inventory report. The Energy Information Administration (EIA) noted that U.S. crude stockpiles declined by 5.3 million barrels last week, marking the third straight week of losses. Additionally, a cold snap blanketing the country helped propel petroleum products higher. Crude oil for February delivery ended up 66 cents, or 0.7%, at $90.48 per barrel. This marks black gold's highest close since Oct. 3, 2008.

HAPPY TRADING

Dow Futures Recoup Earlier Losses.

EDow Prepares Wall Street For Third Quater GDP;

Nov Home Sales Data

U.S. stock futures traded little changed on Wednesday, as investors awaited data on economic growth and existing home sales for more clues on the state of the recovery.

Futures on the Dow Jones Industrial Average DJH11 11,469, -2.00, -0.02%) were flat at 11,471 and S&P 500 index futures (SPH11 1,250, -0.30, -0.02%) were virtually unchanged at 1,250.80. Nasdaq 100 futures edged down 2 points to 2,233.20.

The third estimate of U.S. third-quarter gross domestic product is due at 8:30 a.m. Eastern time. The market expects annualized growth to be revised upward to 2.8%, up from a previous estimate of 2.5%.

After the market opens, at 10 a.m. Eastern, data on November existing home sales will be released.

EDow is Rock Steady

Technical Analysis : 综合指数 2010年12月22日 / FBMKLCI 22/12/2010

综合指数 2010年 12月 22日
如图中箭头A所示，富时综合指数进一步上扬9.87点或0.66%，以1515.05点闭市，综指当前的阻力水平是1532点的费氏线，支持水平则保持在1500点的心理支持水平，另一方面，综指也将面对如图所示的三角形阻力，若综指能上扬突破此三角形，综指将有望更上一层楼。

如图所示，综指上扬突破布林中频带，再加上布林频带稍微打开4%，所以综指继续上扬，接下来若布林频带明显的打开，综指将有望出现新一轮的上扬趋势，直到综指跌破布林中频带为止。

如图中箭头B所示，马股成交量稍微减少7.95%，惟成交量仍然达到40天成交量移动平均线（VMA），这显示市场的承接力量依然充足，这对综指继续保持转强趋势是有利的。

如图中箭头C所示，随机指标（Stochastic）上扬达到70%的水平，这显示综指的短期走势有确认进入上扬格局的迹象，接下来只要随机指标继续上扬并且保持在70%以上，综指的短期走势将有望维持在上扬的格局，直到随机指标跌破70%水平为止。

总的来说，综指在上扬突破了14、21、31天加权移动平均线（EMA），综指继续出现转强的走势，接下来若综指能保持在布林中频带以上，再加上布林频带明显的打开，综指将有望恢复上扬的趋势，上探1532点的阻力水平。

FBM KLCI 22 December 2010
As indicated by A, the FBM KLCI gained 9.87 points or 0.66%, to close at 1515.05 points. The immediate resistance for the KLCI remain at 1532 while the support is still at the 1500 level. Meanwhile, the KLCI is also set to test the descending line of the triangle.

As shown on the chart above, the Bollinger Bands expanded with only 4%, but still the immediate technical outlook turns slightly positive as the KLCI breaks above the Bollinger Middle Band. If the Bollinger Bands should continue to expand, while the KLCI stays above the Bollinger Middle Band, more upside room is expected for the KLCI.

As indicated by B, total market volume fell 7.95%, but with volume above the 40-day Volume Moving Average. Generally, if volume could stay above the 40-day Volume Moving Average, the market sentiment is expected to improve.

As indicated by C, the Stochastic rebounded strongly, breaking above the 70% level by margin. If the Stochastic could stay above 70%, it means that the KLCI short term movement is picking up strength again.

In conclusion, technical outlook is turning positive as the KLCI regain its position above the Bollinger Middle Band, as well as the 14, 21, 31 EMA. The KLCI is set to test the all time high resistance of 1532.

HAPPY TRADING

Technical Analysis : 综合指数 2010年12月21日 / FBMKLCI 21/12/2010

综合指数 2010年 12月 21日
如图中箭头A所示，富时综合指数回弹上扬，重新回到1500点以上的水平，综指以1505.18点闭市，按日上扬9.30点。综指当前的支持水平上移至1500点的费氏线，阻力水平则是1532点的费氏线，另一方面，综指亦正在形成一个三角形，这三角形的两道趋势线也将成为综指的动态支持与阻力线。

如图所示，综指一度上探布林中频带，惟综指最终在套利下回软，以致综指闭市的水平低于布林中频带，这显示综指仍然未能突破布林中频带这道动态阻力线。无论如何，由于布林频带（Bollinger Bands）收窄2%，这表示综指目前正处于一个横摆巩固的格局，直到布林频带开始明显的打开为止，综指才会开始新的趋势。

如图中箭头B所示，随机指标（Stochastic）出现回弹，并且上扬突破了30%的水平，这显示综指的短期走势摆脱了下跌的趋势，接下来若随机指标能继续上扬，并且突破70%的水平，综指的短期走势将有望恢复上扬的趋势。

图中箭头C所示，马股成交量在综指上扬的带领下增加30.16%，这显示投资者开始回笼，这增加了市场的买盘及承接力量，对综指转强是有利的。

总的来说，综指重新返回1500点以上的水平，再加上综指同时突破14、21、31天的加权移动平均线）（EMA），这对市场来说是有着正面的作用。接下来若综指能继续上扬，并且上扬突破布林中频带，那综指将有望摆脱横摆巩固，恢复上扬的趋势。

FBM KLCI 21 December 2010
As indicated by A, the FBM KLCI rebounded on Tuesday, breaking above the 1500 level, to close at 1505.18 points, up 9.30 points. Therefore, the immediate support for the KLCI is back at 1500 while the immediate resistance is at 1532.

Meanwhile, the KLCI remains in its Triangle consolidation.

As shown on the chart above, the KLCI tested the Bollinger Middle Band, but failed to break above the Bollinger Middle Band. This suggests that despite the rebound, immediate technical outlook for the KLCI remains weak. Nevertheless, with the Bollinger Bands contracting again, the KLCI is expected to consolidate further.

As indicated by B, the Stochastic rebounded, and break above 30%, breaking away from its short term bearish territory. This is a signal suggesting a beginning of a short term technical rebound. If the Stochastic could break above 70%, it would be a short term bullish signal for the KLCI.

As indicated by C, total market volume increased 30.16%, and this suggests some improvement in the market participation. If volume could stay above the 40-day Volume Moving Average, the market sentiment as a whole is likely to improve.

In conclusion, the rebound on Tuesday has helped lifted the technical outlook a little, and if the KLCI could resume to above the 14, 21, 31 EMA, the KLCI would have a chance to resume its long term uptrend.

HAPPY TRADING

Malaysia Derivatives Exchange >>> FBM KLCI Futures

FKLI Technical Rebound Flopped At Last Half Hour.

The FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) futures contracts on Bursa Malaysia Derivatives closed lower yesterday.
December 2010 fell 7.5 points to 1,492, January 2011 dropped 7 points to 1,493, March 2011 slipped 6 points to 1,494 and June 2011 went down 8 points to 1,491.
Volume declined to 5,349 lots from 6,491 lots last Friday while open interest was unchanged from last week’s 21,363 contracts.
On the cash market, the benchmark FTSE Bursa Malaysia KLCI slipped 4 points to close at 1,495.88 after opening 0.42 point lower at 1,499.46.

SESSION ACTIONS 20/12/2010

Mid morning forced selling & LONGs liquidations pressured the FKLI to an intraday low 1489 whereby from which triggered a technical rebound.

FKLI prices rose steadily to above opening 1496.3 and beyond as high as 1498.0 before succumbing to another round of profit takings.

The FKLI fell back to the rebound triggered mark @1492.0.

Round One to the bears but ZL optimistic there will be another attempt very soon to recapture the 1500 mark and it could be as soon as within the next 48 hours.

Support seen at 1489 with a lower floor at 1485.

1st Resistance at EMA 34 which coincidentally is almost similar to 1499 resistance.

A successful breakout will bring the FKLI to retest the 1515 mark.

Recommendations

BUY ON DIP / WEAKNESS

(Technical Support should be around 1490 >>> 1485)

HAPPY TRADING

Dow Futures Sets The Stage For A Steady Wall Street Opening

DJ $5 (MINI) Mar 2011 (E) (CBOT:YM.H11.E)
ZLBT Scan Chart Analysis continues positive longer term. Look for this market to remain firm. Strong Uptrend with money management stops. A triangle indicates the presence of a very strong trend that is being driven by strong forces and insiders.

Based on a pre-defined weighted trend formula for chart analysis, YM.H11.E scored +90 on a scale from -100 (strong downtrend) to +100 (strong uptrend):

HAPPY TRADING

ZLBT Charts For Monday >>> FKLI DJIA FCPO SOYBEAN OIL

FKLI >>> Rumble or Tumble?

ZL gives it a 60/40 negativity

Santa is not due for a few more days :P

Wall Street investors are not really rushing into the market & the volume seems to emphasise yhis point. On the contrary, if volume does increase it may turn out to be a tumble and not a rumble. Have a strabge feeling a Dow triple digit drop is not too far off ....

Year End Portfolio Adjustments Should Keep CPO Peices In Check

CPO is under heavy profit taking activities and the negative export numbers are giving the LONG holders very stressful past few sessions.

Technically there is more downside ahead with 3375 > 3350 important supports

]Recommend SELL INTO STRENGTH

Soybean oil is presently consolidating and should resume it's uptrend after the festive holidays. Mantain LONG mindset but at the same time cool off any bullish temporarily

HAPPY TRADING

WALL STREET : Major Indexes Round-up 18 Dec 2010

Investors Cautious As Year End Volumes Wind Down

Moody's Slashes Ireland's Credit Ratings

EU Stocks Slip On Ireland Letdown

Asian Market Mixed; Taiwan Hits 31 Month High

European Debt Drama Limits Bulls' Momentum
Dow Eases Into Shorten Xmas Week
The Dow Jones Industrial Average (DJIA – 11,491.91) ate away at its deficit as the session progressed – and even made a brief foray into the black – but still gave up 7.3 points, or 0.1%, by the close. Just 13 of the Dow's 30 blue chips ended higher, led by Boeing and Kraft Foods, while American Express paved the path lower for the 17 declining equities. Despite today's modest retreat, however, the blue chip barometer remains comfortably north of trendline support, and tacked on 0.7% since the start of the week – the best of its peers.
The S&P 500 Index (SPX – 1,243.91) essentially called the session a wash, advancing 1 point, or 0.1%. For the week, the SPX gained 0.3%.

Impressive NASDAQ Rises To Near 3-Year High

The tech-rich Nasdaq Composite (COMP – 2,642.97) tagged a near three-year peak of 2,651.35 in intraday trading, but settled for a more modest gain of 5.7 points, or 0.2%. Week-on-week, the tech index gained 0.2%.

HAPPY WEEKEND

FBMKLCI WEEKLY TECHNICAL ANALYSIS 17/12/2010 / 每周技术分析 2010年12月17日

Weekly Analysis FBMKLCI 17/12/2010 For the week ended on the 17th of December, 2010, the KLCI fell a total of 7.4 points, with a weekly high of 1517.15 and a weekly low of 1495.20, total market volume traded was 5,864,912,400 shares, gained 17.57%.

Main Chart: Profit taking pulled the KLCI lower last week, and the KLCI fell below the Bollinger Middle Band, as well as marginally below the 14, 21, 31 EMA. However, it is still too soon to call for a bearish trend. Support for the KLCI is found at 1476 WinChart Automatic Fibonacci Retracement while the resistance is at 1525 to 1532 WinChart Automatic Fibonacci Retracement.

Volume: As indicated by B, total market volume was basically lower, mostly below the 40-day Volume Moving Average. This suggests that the market was lightly participated, as investors confidence was relatively lower. However, it is rather normal to have lower volume as the KLCI is consolidating.

Bollinger Bands: With the KLCI breaking below the Bollinger Middle Band, the immediate technical outlook for the KLCI is now on the negative side. However, due to the contraction of the Bollinger Bands, the KLCI is expected to consolidate further.

MACD: The MACD histogram stopped rising on Wednesday, and started falling since. Therefore, the MACD histogram is now forming a Rounding Top, and provided that the MACD histogram is still falling, it means that the KLCI is gradually losing strength.

WinChart RSI: Despite breaking above 50%, the WinChart RSI failed to rise further, and at the moment, still showing a mid term neutral signal, slightly above 50%. This suggests that the KLCI is likely to stay in a sideways movement.

Stochastic: As indicated by C, the Stochastic fell below 30%, entered the short term bearish territory. If the Stochastic should remain below 30%, the market movement for the short term is expected to be weak.

In a Nut Shell: The KLCI took a dip last week, but it is too soon to call for any bearish trend formation. The KLCI is likely to consolidate further.

每周技术分析 2010年12月17日

富时综合指数上周以1511.82开市，全周最高水平是1517.15点，最低则是1495.20点，综指上周以1499.88点闭市，按周下滑7.4点或0.49%，总成交量为58亿6491万2400股，按周增加17.57%。

主要指标－图

形综指上周因套利活动而出现技术调整，这使到综指跌破了布林中频带，甚至稍微跌破14、21、31 天综合加权移动平均线（Exponential Moving Average - EMA）的动态支持线。不过，综指周五稍微回弹，所以综指还未确认形成跌势。综指支持水平落在1476点的费氏线，阻力水平则是1525至1532点的费氏线。

布林频带

如图所示，综指跌破了布林中频带（Bollinger Band），不过所幸的是布林频带仍然在收窄中，这表示综指目前仍然处于盘整格局中，同时也在酝酿着一个新的走势，直到布林频带重新打开为止，届时再以综指所处于布林中频带的相对位置来判断综指是否能恢复上扬格局还是开始转弱。

技术指标

成交量

如图中箭头B所示，马股总成交量上周开始偏低，几乎全周的成交量都处于40天的成交量平均线（VMA）以下，这表示马股交投处于淡静。不过，一般上当大势处于盘整格局时，成交量偏低是很正常的。不过，若综指要恢复上扬格局，那就需要更多的成交量，届时才能有足够的承接力来扶持综指（或大势）上扬。

平均乖离

平均乖离（MACD）的振荡指标（Histogram）上周上周三停止上扬，而且随后开始转弱。因此，平均乖离振荡指标有形成圆顶（Rounding Top）的可能。若平均乖离振荡指标形成圆顶的话，那便是综指继续处于技术调整的讯号。

胜图强弱指标

胜图强弱指标（WinChart RSI）上周虽然上扬突破50%，但由于综指出现技术调整，因此胜图强弱指标也无法上扬。目前胜图强弱指标正处于50%水平左右，这表示创业板中期走势偏向于盘整的格局。

随机指标

随机指标（Stochastic）上周下跌，并跌破了30%水平，进入了短期弱势区域里。接下来若随机指标继续处于30%水平以下，那综指短期的走势将继续看淡，直到随机指标上扬突破30%水平为止。

总结

总的来说，综指因套利活动而短期开始走软，不过综指还未确认形成跌势，这是因为布林频带仍然在收窄中。无论如何，接下来若布林频带重新打开时综指仍然处于布林中频带以下，届时综指将开始有转弱的风险。

WALL STREET >>> Resilient Nasdaq Powers The Dow +41 Higher

Malaysian Stocks Poised To Reclaim 1,500-Point Level?

The Malaysian stock market has finished lower now in back-to-back sessions, shedding more than a dozen points or 0.8 percent along the way. The Kuala Lumpur Composite Index finished just below the 1,500-point plateau, although now traders are looking for a slightly positive bounce when the market kicks off trade on Friday.

The global forecast for the Asian markets is modestly positive, thanks to better than expected economic data from the United States. Steel and property stocks are likely to provide support, while gold miners could decline on profit taking following a recent rally. The European markets finished mixed but little changed and the U.S. bourses ended modestly higher - and the Asian markets are also expected to track mostly to the upside.

The KLCI finished modestly lower on Thursday, thanks to weakness from the financial shares, industrial issues and plantation stocks.

For the day, the index was down 11.58 points or 0.77 percent to finish at 1,497.52 after trading between 1,495.39 and 1,507.19. Volume was 1.275 billion shares worth 1.816 billion ringgit. There were 473 decliners and 256 gainers, with 296 stocks finishing unchanged.

Among the actives, KNM Group, CIMB, Maybank and Genting all finished lower, while Petronas Chemical was flat and SAAG Consolidated, MTD Capital and Sime Darby ended higher.

Data & FedEx Keeps Bulls In Cruise Control

Stocks sputtered higher today, with the major market indexes gaining ground after a choppy start to the session. FedEx more or less set the tone, as traders considered the shipping titan's turn in the earnings spotlight. The stock initially staggered lower due to a second-quarter profit miss -- but that early gloom gave way to cautious optimism, as "record-setting peak volumes and greater anticipated customer demand" prompted FedEx to raise its full-year forecast. Wall Street's mood was also boosted by an unexpected drop in weekly jobless claims, as well as a decent round of housing data.

Against this backdrop, U.S. stocks wrapped up the day with respectable gains.

By the close, the Dow Jones Industrial Average (11,499.25) tacked on 41.8 points, or 0.4%, stopping just short of the 11,500 level. Only five of the Dow's 30 components closed lower, led by American Express. Meanwhile, Alcoa set the pace for the 25 advancing blue chips. If the Dow continues to climb tomorrow, the index could notch its first weekly finish above 11,500 since August 2008.

The S&P 500 Index 1,242.87) added 7.6 points, or 0.6%, rebounding neatly from support at its rising 10-day moving average. Finally, the NASDAQ Composite (COMP – 2,637.31) gained 20.1 points, or 0.8%, but the tech-rich COMP continues to encounter resistance near the 2,640 region.

For every stock falling, about two rose on the New York Stock Exchange, where volume topped 1 billion.

ANALYST QUOTES

“FedEx was a headline scare this morning, but then the professionals starting digging through it, and it was actually more positive.

“The path of least resistance is probably north to sideways as we close up the year. Barring some unexpected geopolitical event, the market’s kind of put a bow on the year and put it under the tree.”

"But ultimately Wall Street avoided the late-day selloff that had clipped rallies in each of the previous three trading days as the bulls focused on the latest signs the economy is slowly improving, highlighted by a surprise jump in a regional manufacturing index."

“There are lots of things fluctuating our markets. It just seems like the fluctuating is going to the upside right now.”

Wall Street largely shrugged off concerns about FedEx, which reversed an early 2% slump that had been sparked after it badly missed estimates with non-GAAP EPS of $1.16. FedEx, which is seen as an economic bellwether did increase its guidance for its fiscal year, but the midpoint of the new range would trail expectations

BLACK GOLD

Crude futures closed modestly lower today, giving back modest gains inspired by Wednesday's bullish inventory report. Despite the larger-than-expected drawdown, U.S. stockpiles are still hovering at relatively bloated levels -- giving market players little motivation to buy black gold at current prices. By the close, crude oil for January delivery shed 92 cents, or 1%, to finish at $87.70 per barrel.

HAPPY TRADING