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Monday, June 21, 2010

Random Charts For The Week Ahead

New positions seekers do exert some cautions >>> for your own interest.
Dow Wins the Day and the Week
As the Rest of Us Watched Soccer
The Dow Jones Industrial Average (DJIA – 10,450.64) ended with a gain of 16.5 points, or 0.2%, as 16 of its 30 components settled higher. Pacing the advancing equities was JPMorgan Chase (JPM), while Pfizer (PFE) led the 12 declining blue chips; the shares of Bank of America (BAC) and Johnson & Johnson (JNJ) finished right where they started. For the week, the Dow advanced 2.3%.
The S&P 500 Index (SPX – 1,117.51) ended with a similar gain of 1.5 points, or 0.1%, to extend its weekly advance to 2.4%. Nevertheless, the broad-market barometer is still staring up at its 32-week moving average. Finally, the Nasdaq Composite (COMP – 2,309.80) eked out a gain of 2.6 points, or 0.1%, by the close. For the week, however, the tech-rich index fared the best of the three, adding 3%.


For the week ended on the 18th of June, 2010, the KLCI rebounded a total of 23.02 points or 1.8%, with a weekly high of 1317.69 and a weekly low of 1294.60 points, total volume was 2,731,008,600 shares, downed 5.1%.

All technica indicators ^ oscillators are looking good for the FBM KLCI daily chart except for the volume which may throw a spanner into more upside movements.

OUTLOOK : In bullish tandem with the DJIA

FKLI June contract on Bursa Malaysia Derivatives closed at 1,318.5 with open interest of 17,837 contracts last week. The June contract touching a high of 1,320 during the week. The rebound is seems firmly on track as the daily chart continues to chalk new highs. Things are looking bright again for the bulls as the 1,300 resistance has been broken, Deeper commitment by the buyers has sustained the bullish trend.
On the downside, the FKLI Weekly Chart has not broken above the Middle Bollinger. Any slow slow in buying momentum will result is the bears attempting a counter-attack. Monitor for profit taking activities which is usually the initial signs of an impending U-turn.


CPO is fluctuating within a 2 phase range >>> the 2400 and below as indicated in above chart.

The main reason for the price fillip was US dollar weakness against the euro, which encouraged speculation that the US export trade in soyabeans and soyaoil will benefit from higher foreign demand, mainly from China. That had a knock-on effect on the local CPO futures market, which otherwise would have been grasping at straws for leads.
No big moves expected unless CPO breaks free from the indicated range 2330 >>> 2530.
OUTLOOK : Neutral to bearish


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