FBM KLCI >>> Week-on-week, the Composite Index climbed 4.01 points, or 0.3% to 1,336.78 last Friday, compared with 1,332.77 on April 16. Weekly turnover shrank slightly to 4.137 billion units valued at RM5.854bil, versus 4.807 billion shares worth RM7.281bil done a week ago.Earlier in the week in a knee-jerk reaction to the fraud charges against Goldman Sachs and a steep pullback in overnight Dow, the FBM KLCI fell as much as 11.52 points before bouncing back slightly to trade range-bound amid bargain-hunting interest.
The weekend BN victory in Hulu Selangor should provide some impetus to hold off the bears. The market will prolong it's consolidations until the Daily Bollinger Bands starts expanding >>> with prices above Mid BB 1334 of course.
ZLBT outlook >>> Neutral with slight bullish bias.
FBMKLCI Futures >>> FKLI sharks are scaring the hell out of LONG holders with the Premium & Discount fluctuations. Recent dipping FKLI daily volume an indication of buyers' commitments.ZLBT recommend a FKLI BUY on weakness with an eye to cutloss for any sign of the SMA 10 about to cross below SMA 30 which is a bearish signal.
BMD Crude Palm Oil Futures >>> CPO picked up some steam last week on some short-covering activities. Both the MACD & Stoch emitted BUY signal but in bearish territories. Technically there is not much bullish TA to go on exuberated shopping until the MACD is closser to the Trigger Line or when the Stochastics move above the Neutral 50.
ZLBT outlook >>> Beware of bears in bull's mask. This could be an entrapment ala HORNY BEARS
ZLBT outlook >>> Beware of bears in bull's mask. This could be an entrapment ala HORNY BEARS
Dow Jones Industrial Average >>> 
The Wow! Jones Cracks 11,200 and extends rally to 8th weeks. Upward momentum remains intact despite Goldman and Greece fiascos.
Wall St ended the week with a shiny green APPLE for the bulls despite the historical tendencies of market weakness in the first week of a five-week expiration cycle, the S&P 500 Index (SPX) broke above the 1,200 level last week, as investors did not hesitate to move beyond the Securities and Exchange Commission's (SEC) fraud allegations against Goldman Sachs.
Wall St ended the week with a shiny green APPLE for the bulls despite the historical tendencies of market weakness in the first week of a five-week expiration cycle, the S&P 500 Index (SPX) broke above the 1,200 level last week, as investors did not hesitate to move beyond the Securities and Exchange Commission's (SEC) fraud allegations against Goldman Sachs.
On Thursday morning, the U.S. market had its back up against the wall once again, as overseas markets sold off in response to renewed credit worries in Greece. The first 30 minutes of trading were met with selling, but from there a recovery ensued, and stocks closed higher on the day. Investors are focusing on earnings, which continue to beat expectations, despite concerns that earnings expectations were too high.
The Market Bends, But Doesn't Break
Any hiccups are quickly met with sideline money coming in to support stocks.
Wow! Jones is good to go >>> at least until the end of season earnings reports.
ZLBT will not speculate on any immediate reversals but stay alert for the inevitable.
Monday
The economic front is devoid of data on Monday. Caterpillar Inc. (CAT), Humana Inc. (HUM), Sohu.com Inc. (SOHU), Boston Scientific Corp. (BSX), and Texas Instruments Inc. (TXN) will release their earnings reports.
Tuesday
Tuesday offers up the Case/Shiller home price index for February and the April consumer confidence index. On the earnings front, 3M Company (MMM), DuPont (DD), Ford Motor Co. (F), Lexmark International Inc. (LXK), Newmont Mining Corp. (NEM), Office Depot Inc. (ODP), U.S. Steel Corp. (X), UAL Corp. (UAUA), Under Armour Inc. (UA), United Parcel Service Inc. (UPS), Broadcom Corp. (BRCM), Panera Bread Co. (PNRA), and RF Micro Devices Inc. (RFMD) are scheduled to release their quarterly reports.
Wednesday
On Wednesday, the usual report on weekly U.S. petroleum supplies will be overshadowed by a statement on monetary policy by the Federal Open Market Committee. Taking their turn in the earnings confessional are Barrick Gold Corp. (ABX), Comcast Corp. (CMCSA), Corning Inc. (GLW), Hecla Mining Co. (HL), Royal Caribbean Cruises Ltd. (RCL), The Allstate Corp. (ALL), Baidu Inc. (BIDU), First Solar Inc. (FSLR), Visa Inc. (V), and Xilinx Inc. (XLNX).
Thursday
Thursday offers up the usual weekly initial jobless claims. Aetna Inc. (AET), Akeena Solar Inc. (AKNS), Colgate-Palmolive Co. (CL), ConocoPhillips (COP), Eastman Kodak Co. (EK), Exxon Mobil Corp. (XOM), Fortune Brands Inc. (FO), Kellogg Co. (K), Motorola Inc. (MOT), OfficeMax Inc. (OMX), Potash Corp. of Saskatchewan (POT), The Procter & Gamble Co. (PG), Chiquita Brands International Inc. (CQB), KLA-Tencor Corp. (KLAC), McAfee Inc. (MFE), and MEMC Electronic Materials Inc. (WFR) are scheduled to report earnings.
Friday
Friday closes the week with an advance look at first-quarter gross domestic product, the April Chicago business barometer and the April University of Michigan consumer sentiment index. Rounding out the week's earnings reports are Avon Products Inc. (AVP), Chevron Corp. (CVX), China Sunergy Co., Ltd. (CSUN), and Constellation Energy Group Inc. (CEG).
Happy Trading & Goodluck2all
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