FBMKLCI >>> Short term pain Longterm gain



Intraday Chart c/w FBM Top 30 stocks

 Bluechips Index Closes Off Low
Share prices on Bursa Malaysia recovered some of its losses in eleventh hour buying but the FTSE Bursa Malaysia KLCI (FBM KLCI) still finished in the minus territory.

The market barometer closed 1.95 points easier at 1,519.94 after opening 14.22 points lower at 1,507.67. A dealer said gains in Axiata, Genting, Maxis and Sime Darby managed to cap earlier losses.

Axiata advanced seven sen to RM4.80, Genting rose six sen to RM3.33, Maxis added two sen to RM5.34 while Sime Darby gained three sen to RM9.19.

Buying was also seen in properties, construction, industrial products and trade/services stocks with the key index trading between 1,505.85 and 1,520.63 points throughout the day.

A dealer said the local market, which remained in the red for most part of the day, saw range-bound trading as most investors were already away for the Chinese New Year holidays.

"Most likely, it is going to be quiet this week with only one-and-a-half- days of trading this week," HwangDBS Vickers Research said in its research note today.

A sharp decline in overnight Wall Street and uncertainties in Egypt also made the local equities market less attractive.

The Finance Index fell 28.479 points to 13,934.65, the Plantation Index shed 19.03 points to 7,868.73 while the Industrial Index dipped 4.03 points to 2,863.5. The FBM Emas Index fell 18.39 points to 10,469.17 and the FBM70 Index slipped 29.551 points to 11,222.6. The FBM Ace Index, however, rose 39.45 points to 4,292.25. Decliners outpaced advancers 428 to 300 while 280 were unchanged, 386 untraded and 41 others were suspended.

Volume rose to 1.415 billion shares, worth RM2.08 billion, from 1.347 billion shares, valued at RM1.976 billion, registered on Friday.

FBMKLCI 1,498 Key Support to Watch,

Historical Trend Favor Recovery Post CNY



Monthly Candlesticks

 After forming a double-top at 1,576 followed by sharp dip to 1,505 in January, the KLCI should move into base building mode to reinforce support which would anchor the subsequent longer-term uptrend. Key support where the index should bottom out is at 1,498, taken from three different Fibonacci Retracement (FR) points.

This important support must hold to prevent a deeper correction towards 1,450, which we deem will be remote. The index performance in February has been positive in 15 of the past 21 years, gaining an average 3.7%, while 2 weeks post Chinese New Year the benchmark averaged 5% gain in the past 19 years.

On the monthly chart, an extended wave (3) rally could sustain through 2011 to a base case upside target of 1,813, assuming the prior wave 3 rally (from 548 low of April 2001 to 1,525 peak of January 2008) equals the current up-wave from 836 low, that is (1,525 - 548 = 977 + 836 = 1,813).

HAPPY TRADING

GONG XI FA CAI

FKLI 1500 Psychological Support Under Threat

FKLI Traders Be Wary Of Spot Month In Premiums

Some Traders Here May Have Heeded My Warning

But Outsiders Are Not So Fortunate

They Have No Guardian Angel .... hehehe!!!

FKLI Recommendations

SELL INTO STRENGTH / RESISTANCE

WALL STREET >>> Bleak Earnings, Egyptian Unrest Spark 166-Point Dow Drop

Dow Sank On The Nile Weighted By Economic Data

Fears over unrest in Egypt sent U.S. stocks reeling Friday to their biggest one-day decline in months and put an end to the market’s eight-week win streak, as investors sought safety while oil prices surged.

Stocks were hammered lower today, with the major market indexes swallowing steep losses in the face of lackluster corporate earnings, discouraging economic data, and troubling political developments in the Middle East. Setting the bearish tone early, heavy hitters such as Ford Motor (F), Microsoft (MSFT), and Amazon.com (AMZN) all took a post-earnings drubbing, as traders found fault with each firm's quarterly report. Meanwhile, the latestThomson Reuters/University of Michigan consumer sentiment index pointed to rising skepticism in January, while the Commerce Department estimated that fourth-quarter gross domestic product (GDP) rose by a weaker-than-forecast 3.2%.

As if these downbeat data points weren't enough to spook the bulls, increasingly unpopular Egyptian President Hosni Mubarak today deployed his military and declared a country-wide curfew in an attempt to curtail four straight days of protests and riots. Despite the objections of the U.S., the Egyptian government has now taken steps to shut down mobile service, Internet access, and subways as it attempts to cripple activists' ability to organize. As political tension in the Middle East rose from a simmer to a boil, oil and gold futures emerged as the day's big winners -- while the major market indexes beat a hasty retreat into the red.

The Dow Jones Industrial Average (DJIA – 11,823.70) ended the day on a hefty deficit of 166.1 points, or 1.4%, as only two of its 30 components closed higher. Microsoft and Home Depot (HD) set the tone for the 28 declining blue chips, while both DuPont (DD) and Procter & Gamble (PG) managed to end fractionally higher. Today's steep sell-off left the Dow beneath its 10-day moving average for the first time since Jan. 10, but the blue chip barometer remains north of its 20-day trendline.

For the week, the Dow dipped 0.4%, unceremoniously ending its eight-week winning streak.

The S&P 500 Index (SPX – 1,276.34) settled for a loss of 23.2 points, or 1.8%, and suffered a daily close beneath its 10-day and 20-day moving averages for the first time since Nov. 30. Finally, the Nasdaq Composite (COMP – 2,686.89) gave up 68.4 points, or 2.5%, after finding an intraday floor near 2,680. The SPX shed 0.5% this week, while the COMP lost 0.1%.
OIL RISES 3.4%.

Oil Rises 4.3% On Egyptian Tensions
Crude price were catapulted higher today by the churning conflict in Egypt, despite the fact that the country ranks just 21st among oil-producing nations. Analysts are concerned that the political unrest may spread to neighboring oil-rich countries, such as Algeria, potentially hampering global supplies. Further raising the stakes on the perceived supply threat, there's also some uncertainty about the impact on two major energy transportation arteries running through Egypt -- the Suez Canal and Sumed pipeline. By the close, crude oil for March delivery added $3.70, or 4.3%, to finish at $89.34 per barrel. This marked the contract's largest daily jump since last May, bringing its weekly gain to 0.3%.

U HAD BEEN WARNED (hehehe!)

Technical Analysis : 综合指数 2011年01月28日 / FBMKLCI 28/01/2911

综合指数 2011年 01月 28日

如图中箭头A所示，富时综合指数微跌5.07点或0.33%，综指以1521.89点闭市，综指再度跌破了1525.49点的费氏线，这使到1525.49点成为综指当前的阻力水平，支持水平则落在1513.34点的费氏线。

如图所示好，布林频带（Bollinger Bands）打开的幅度为7%，这显示综指下跌的速度持续的缓和下来，不过布林频带并未收窄，所以综指并未出现回弹上扬的走势。无论如何，布林中频带成为综指接下来的阻力线，综指是必须上扬突破此阻力线，综指才有望摆脱下跌的走势。

如图中箭头B所示，马股的总成交量进一步减少4.5%，所以成交量继续的低于40天成交量移动平均线（VMA），这显示市场的交投量减少至稍微淡静的格局，这也是因为在综指下调了整4.5%后，投资者开始谨慎投资，选择静观其变所致。

如图中箭头C所示，随机指标（Stochastic）精确的在30%的水平回软，所以指标始终未能上扬突破30%的水平，这显示综指的短期走势仍然处于下跌的格局中，直到指标成功的上扬突破30%的水平为止。

总的来说，综指开始步入淡静的格局，有开始出现巩固的迹象，不过布林频带并未开始收窄来确认综指是否出现横摆巩固。无论如何，由于综指始终低于布林中频带以及31天加权移动平均线（EMA），所以仍然综指回弹的走势只能算是纯技术反弹，直到综指能突破这两道动态阻力线为止。

FBM KLCI 28 January 2011

As indicated by A, the KLCI fell 5.07 points or 0.33%, to close at 1521.89 points. The KLCI is now below the 1525.49 and therefore, 1525.49 is the immediate resistance while the support is at 1513.34.

As shown on the chart above, the Bollinger Bands expanded 7%, and still the expansion rate is gradually reduced, and this implies that the Bollinger Bands could be contracting soon, thus a signal suggesting a consolidation for the KLCI. However, as the KLCI is still below the Bollinger Middle Band, the immediate technical outlook for the KLCI is on the negative side.

As indicated by B, total market volume fell 4.5%, with volume below the 40-day Volume Moving Average. Again, this shows that the market is quiet as investors are staying away from the market, a head of the festive holiday.

As indicated by C, the Stochastic tested 30%, but it failed to break above 30%. Therefore, the short term bearish signal for the KLCI remains intact, and this suggests that the short term movement of the KLCI is still weak.

In conclusion, as the market is getting quieter, the KLCI also showing signs of a consolidation, but the Bollinger Bands has not started to contract, and therefore, it has not formed the consolidation signal. Nevertheless, technical outlook for the KLCI remains on the negative side as the KLCI is still below the 14, 21, 31 EMA dynamic resistance.

Technical Analysis : 综合指数 2011年01月26日 / FBMKLCI 26/01/2011

综合指数 2011年 01月 26日
如图中箭头A所示，富时综合指数继续下滑，一度更下跌至1505.36点，随后综指出现回弹，收窄跌幅，综指按日下滑6.43点，以1520点闭市。由于综指跌破了1525.49%的50%费氏支持线，所以1525.49点转过来成为综指当前的阻力水平，支持水平则是1513.34点的费氏线。

如图所示，布林频带（Bollinger Bands）打开28%，而综指依然维持在布林中频带以下，所以综指继续下跌。不过由于布林频带打开的幅度开始减少，这显示综指下跌的速度亦有缓和下来的迹象。接下来若布林频带打开的幅度继续减低，综指将有望出现技术调整，使到综指避开进一步的下跌。

如图中箭头B所示，马股的总成交量减少27.23%，这使到成交量跌破了40天成交量移动平均线（VMA），这显示投资者开始对后市有顾虑，选择场外观望。

如图中箭头C所示，随机指标（Stochastic）回弹，不过指标仍然低于30%，这显示综指的短期依然属于跌势中，换句话说，接下来若随机指标上扬突破30%，综指有望结束短期跌势而开始进入巩固中。

综指目前仍然低于布林中频带以及31天加权移动平均线（EMA），所以综指基本上属于下跌的趋势中，惟综指必须形成较低的顶（Lower High），综指才能确认长期的走势。总的来说，综指的短期走势依然趋软，至于综指长期走势则有待综指进一步的演变才能确认。

FBM KLCI 26 Janyary 2011
As indicated by A, the KLCI had a sharp loss in the early trade, with its daily low reaching 1505.36, but it gradually covered most of its loss, and close at 1520 points, losing 6.43 points. Immediate resistance for the KLCI is at 1525.49 while the new support is at 1513.34 WinChart Automatic Fibonacci Retracement.

Meanwhile, the Bollinger Bands expanded 28%, with the KLCI remains below the Bollinger Middle Band. This suggests that the immediate technical outlook for the KLCI is still on the negative side. If the Bollinger Bands should begin to contract, the KLCI is likely to stop falling and consolidate.

As indicated by B, total market volume fell 27.23%, with volume below the 40-day Volume Moving Average. This suggests that investors are being cautious and prefer to stay on the sidelines as the market sentiment for the short term is affected by the sharp retreat of the KLCI.

As indicated by C, the Stochastic rebounded slightly, but remains below 30%, in the short term bearish territory. This suggests that the short term movement of the KLCI is still weak, until the Stochastic could successfully break above 30%.

In conclusion, the technical outlook for the KLCI is now negative as the KLCI is below the Bollinger Middle Band, as well as the 14, 21, 31 EMA. The KLCI has not formed a lower-high, thus it has not confirmed a downtrend formation.

HAPPY TRADING

The VIX Awakens >>> Wall St. Traders Will Feel The Shivers (Sooner Than Later)

The CBOE Volatility (VIX) Index

Having reached a potential support level at last mid April / May 2010's low near 15, and warned that a bounce off that level could cause a stock market pullback. That's because the VIX and stocks usually trend in opposite directions as shown in Chart A.

The reason I'm coming back to the VIX today is because it's climbing 8% and beginning to look like it's short-term trend is turning up.

Chart B shows the VIX action more closely. After bouncing twice off support near 15 since mid-December, the VIX is challenging its early January intra-day high at 18.63. A close overthat initial resistance barrier would turn its short-term trend higher and could signal an overdue pullback in the stock market.

RALLY TIME!
The recent rally in the broader stock market has begun to correct; and it shall likely correct for the next several weeks. We view this decline much in the same manner as the Jan-2010 to early Feb-2010 decline, which the S&P lost roughly 106 points or nearly -10%. Certainly the momentum are turning lower, and now we view the VIX as a confirming indicator that perhaps has higher prices in mind than anyone is prepared for at this juncture. But at this point, we view any decline in stocks as a "cooling-off" period prior to perhaps a higher high in the 2nd quarter.

The weekly chart shows major support at the 16-to-18 zone is holding once again, and has for all practical matters back to mid-2007. This is reasonable, and one could very easily note once the VIX turns higher, then it generally "spikes" higher. If that is the case here, and the probabilities do favor such an outcome - then minor trendline resistance at 19 should be taken out. This would argue for a 200-week exponential moving average mean reversion exercise that would carry prices upwards to 24.56 or even slightly higher. At that point, quite obviously the technical landscape would need to be reassessed, for further gains would put the declining trendline off the 2008-to-2010 highs into play, and we fear what a breakout above this level would mean to stocks and the US economy in general.

NOTE
The DJIA closed strongly after tagging a new high last Friday.
But do you see any volume to substantiate the prices?
Where is the supporting cast?

CAVEAT EMPTOR

Malaysia Derivatives Exchange >>> FBM KLCI Futures

FKLI >>> A Double Top for the daily & a Hanging Man for the weekly
The recent correction in the broader stock market has begun to correct and it shall likely correct for the next couple of weeks with the inevitable technical rebound here & there. ZL view this decline much in the same manner as per mentioned to ZLBT regular KY when the FBMKLCI & FKLI were both peaking around or slightly below the 1580 level.

But at this point, ZL view any decline in stocks and futures as transitory prior to perhaps a larger high in the 2nd quarter.To wit, the weekly FKLI chart shows major resistance with the last candle in a Hanging Man formation which is the tailend pattern of a Double Top formation in the daily FKLI Chart formation. Both the weekly & daily are as per below for your perusal.In a private discussion with KY recently, ZL did mentioned a 2nd round of profit takings at FKLI 1555.0 level which delivered last Friday. The FKLI pullback to 1555.0 was mentioned on Wednesday just before the Thaipuism public holiday.

To be honest, it was quite severe and Friday's FKLI 24.5 pts losses was a little beyond my expectations.
Maybe it's the executioner (Hanging Man) below working overtime.

Some ZLBT fkli traders may be intrigued how ZL nailed the FKLI with a SHORT 1571.5 last open call. You will find such an article if scroll down this page a little or in the archives. Mind you, that was my SECOND p0rofit takings at FKLI 1555.0, the 1st was a week before that.

BURSA MALAYSIA >>> Tired, lethargic & running on empty
Whatever the main media says, ZL do not follow. That is for the masses (traders & non-traders included) and you know what? The majority losses ...... :P

Bursa rose 90%++ since Najib's watch and we were way below the 1000 pts psychological mark remember? ZL made a vow to give BN my vote if Najib can bring the old KLCI above the 1K mark. He delivered, with the new FBM KLCI created in June that year, and ZL shall keep to my end of the bargain comes General Election but do not hold your breathe. You may get the blues before the party begins .....

HAPPY TRADING

Technical Analysis : 综合指数 2011年01月19日 / FBMKLCI 19/01/2011

FBM KLCI 19 January 2011
As indicated y A, the FBM KLCI had an intra-day low reaching 1561.87 points, but it managed to rebound right below closing, ended the day at 1566.51 points, downed 3.53 points or 0.22%. Support for the KLCI is at 1552.66 WinChart Automatic Fibonacci Retracement while the resistance is at 1567.95 points.

Meanwhile, the Bollinger Bands contracted 43%, and this suggests that the KLCI is still consolidating, but since the KLCI is below the Bollinger Middle Band, the immediate technical outlook for the KLCI is on the lower side.

As indicated by B, total market volume fell 4.22%, but still above the 40-day Volume Moving Average. Generally, the market is still actively participated, but if volume should continue to fall, the market sentiment could turn weaker.

As indicated by C, the Stochastic fell below 70%, ended the short term bullish signal. If the Stochastic should break below 30%, it would be entering the short term bearish territory, and the KLCI short term movement is likely to turn weak.

In conclusion, the KLCI is still consolidating, but gradually turning weaker as the KLCI has broken below the Bollinger Middle Band. Nevertheless, the Bollinger Bands has not expanded, and therefore, it has not confirmed any bearish movement signal for the KLCI yet.

综合指数 2011年 01月 19日
如图中箭头A所示，富时综合指数一度下跌至1561.87点的全日最低点，惟综指在收市是回弹，收窄跌幅，以1566.51点闭市，按日下滑3.53点或0.22%，综指当前的支持水平落在1552.66点的费氏线，阻力水平则维持在1576.95点。

如图所示，布林频带（Bollinger Bands）收窄43%，所以综指仍然处于调整巩固的格局中，惟综指周三跌破布林中频带，这使到综指有趋软的迹象，因为接下来若布林频带开始明显的打开，而综指又未能回到布林中频带以上，综指将有形成跌势的风险。

如图中箭头B所示，马股的总成交量减少4.22%，不过成交量成功的保持在40天成交量移动平均线（VMA）以上，这表示整体市场虽然开始沉寂下来，不过交投量仍然达到一个健康的水平，所以市场仍然有足够的承接力量吸纳套利的卖压。

如图中箭头C所示，随机指标（Stochastic）跌破70%，所以综指的短期走势有开始转弱的讯号，接下来若随机指标跌破30%的水平，综指的短期走势将被确认进入短期的跌势中，直到随机指标上扬突破30%为止。

总的来说，综指在调整巩固了两周后，有开始转弱的迹象，所幸的是布林频带目前仍然收窄，所以综指并未确认任何新趋势，接下来综指必须在短期内重返布林中频带，那综指新趋势在布林频带打开时，才能避开形跌势。

CAVEAT EMPTOR

(Buyers Beware)

Technical Analysis : 综合指数 2011年01月17日 / FBMKLCI 17/01/2011

综合指数 2011年 01月 17日
如图中箭头A所示，富时综合指数稍微上扬，综指以1574.49点闭市，以收市水平来算，综指1574.49点是历史的新高水平。综指当前的支持水平继续处于1552.66点的费氏线，阻力水平则维持在1576.95点。

如图所示，布林频带（Bollinger Bands）收窄32%，这进一步的显示综指继续的处于一个调整巩固的格局中。一般上，综指将保持巩固的格局，直到布林频带再度明显的打开为止。

如图中箭头B所示，由于综指调整巩固，马股交易的数量减少11.05%，不过仍然保持在40天成交量移动平均线（VMA）以上，这显示马股属于活跃的状态，若成交量能保持在40天平均值以上，这将对综指保持转强的走势有利。

如图中箭头C所示，随机指标（Stochastic）上扬并且突破90%的水平，这显示综指的短期走势继续维持在上扬的格局。以技术而言，只要随机指标继续处于70%以上，综指的短期上扬趋势仍然算是完整的。

总的来说，综指依然属于调整巩固的走势中，目前综指仍然获得布林中频带以及14、21、31天加权移动平均线（EMA）的扶持，所以若布林频带在短期内开始打开，综指仍然有望恢复上扬的趋势。

FBM KLCI 17 January 2011
As indicated by A, the FBM KLCI gained 4.6 points to close at 1574.49 points, making yet another historical new high. Support for the KLCI is at 1552.66 while the resistance is at 1576.95. As shown on the chart above, the Bollinger Bands contracted 32%, and this suggests that the KLCI is still consolidating, until the re-expansion of the Bollinger Bands.

As indicated by B, total market volume fell 11.05%, but remain above the 40-day Volume Moving Average. This shows that the market is still active, while investors' confidence is still on the positive side.

As indicated by C, the Stochastic breaks above 90%, and this suggests that the short term movement of the KLCI is strong, but getting slightly over-heated. Nevertheless, with the Stochastic above 70%, the short term market movement for the KLCI is expected to be positive.

In conclusion, the KLCI is still consolidating, with positive technical outlook. At the same time, the long term view of the KLCI remains positive as the 14, 21, 31 EMA is still serving as the dynamic support. If the Bollinger Bands should re-expand with the KLCI above the Bollinger Middle Band, more upside movement for the KLCI is likely.

HAPPY TRADING

U.S. Stocks @30 months High

FINANCIALS / BANK SHARES BOOST WALL STREET

Profit Takings Cap Bursa Upside

DJIA Up 0.5% for Friday & 1% for the week

S&P 500 added 9 pts and 1.7% week-on-week

Nasdaq tagged another 20pts and close the week +1.9% higher.

The US Dollar Index is testing the 79 support mark again.
Lower USD = Higher Crude Oil prices corelations

HAPPY TRADING

Malaysian Stocks Closes At All Time High For New Year

FBM KLCI Closes At Record High

In an unprecedented move, the FTSE Bursa Malaysia KLCI (FBM KLCI) breached the psychological mark to end at a new high for the second consecutive day, fueled mainly by gains in plantation stocks.

The market barometer gained 18.47 points or 1.2 per cent to end at 1,551.89 in brisk trading. It opened 1.15 points higher at 1,534.57.

Positive vibes from most regional equities market, supported by overnight gains on Wall Street, prompted the momentum here, said a dealer.

"A strong signal of a global economic recovery, as more statistics emerge indicating that the United States economy is gaining strength, has served as tonic to boost the local bourse," he said.

Yesterday, data released in the US indicated that the manufacturing sector grew in December at its fastest pace in seven months, reinforcing recovery signs.

News reports stated that US automobile sales also probably grew at the fastest pace since 2009 in December as well as employment increase for a third month.

Regionally, the Hang Seng Index rose one per cent to 23,668.48, Japan''s benchmark Nikkei finished 1.7 per cent higher at 10,398.10.

The benchmark Shanghai Composite Index, which tracks both A and B shares, ended up 1.6 per cent to 2852.65 and closer to home, Singapore's Straits Times Index ended 14.52 points higher at 3,250.29.

On Bursa Malaysia, the Finance Index climbed 136.87 points to 14,116.32, the Industrial Index increased 53.84 points to 2,930.08 and the Plantation Index surged 146.28 points to 8,279.61.

The FBM Emas Index jumped 121.75 points to 10,613.49, the FBM Ace Index perked 35.23 points to 4,394.72 and the FBM70 Index gained 106.67 points to 11,169.58.

Advancers thumped decliners 637 to 233 while 262 counters were unchanged, 249 untraded and 30 others were suspended.

Total volume surged to 2.011 billion shares, worth RM2.88 billion, from last Monday's 1.608 billion shares valued at RM2.09 billion

HAPPY NEW YEAR INDEED!!!

WALL STREET >>> Bulls Usher In 2011 With 93pts Gain & New Highs

Bullish Enthuiasm For New Year
Dow Soars To 2-year High
Wall Street flipped the calendar to 2011 with bullish enthusiasm on Monday as the Dow soared to fresh two-year highs in the wake of a wave of strong manufacturing reports from around the world.

Stocks hit the ground running in the first session of 2011, thanks to promising economic figures and a solid showing among the blue chips. Bolstering the bulls early on was the Institute of Supply Management's (ISM) index of manufacturing activity, which rose for the 17th straight month in December. Separately, the Commerce Department said construction spending revved 0.4% higher in November, besting economists' expectations for a more modest rise of 0.2%. Elsewhere, news that Bank of America Corp. (BAC) settled a dispute with Fannie Mae and Freddie Mac added fuel to the blue chips' fire, while Goldman Sachs' (GS) $450 million Facebook investment stoked the bullish flames among financials. Against this backdrop, all three major market indexes extended their quest for multi-year highs, with the Dow Jones Industrial Average (DJIA) finishing north of 11,600 for the first time since September 2008.

The Dow Jones Industrial Average (DJIA – 11,670.75) rallied as high as 11,711.47 – its loftiest intraday peak in 28 months – before pulling back in afternoon trading. Nevertheless, the blue chip barometer tacked on an impressive 93.24 points, or 0.8%, as all but five of its 30 components ended higher. Bank of America paced the advancers with a 6.4% rally, while Intel Corp. (INTC) bucked the trend with a loss of 0.9%; meanwhile, Merck (MRK) called the session a wash.

The S&P 500 Index (SPX – 1,271.87) touched a multi-year high of 1,276.17 – marking its first foray north of 1,270 since September 2008 – before settling with a slimmer gain of 14.2 points, or 1.1%. In similar fashion, the Nasdaq Composite (COMP – 2,691.52) skyrocketed as high as 2,704.86 – a three-year acme – in intraday trading before finishing with a gain of 38.6 points, or 1.5%. What's more, today marks the tech-rich index's best single-session performance since Dec. 1.

For every stock that fell, three rose on the New York Stock Exchange, where nearly 1.1 billion shares traded.

Oil Climb Above $92 @ 27-months High
Oil futures continued their recent climb today, as encouraging data both domestically and across the pond fueled hopes for increasing demand. Meanwhile, predictions for more cold weather also helped black gold higher. By the close, February-dated crude futures added 17 cents, or 0.2%, to end at $91.55 per barrel – the front-month contract's loftiest finish in 27 months.

HAPPY TRADING

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U.S. Equities Look Upbeat For The New Year

But A Late Q1 Pullback Anticipated

Good night, 2010. Farewell, "flash crash." Good riddance, vuvuzelas. However, some of the headlines of the old year will continue to resonate in the new. Unemployment remains high. European debt issues haven't gone away. Talking heads are still debating the effectiveness -- and wisdom -- of QE2. Most of us will see slightly larger paychecks in 2011, thanks to the tax cut extension engineered by President Obama. And despite a rocky summer, the stock market is apparently on track to continue its amazing 21-month rally off of the March 2009 low.

The final week of 2010 didn't offer even a hint of the drama we saw earlier in the year (apologies to those of you buried by Sunday's blizzard). Instead, we saw the usual low-volume holiday lull, with the market coasting into the end of the year on its own momentum.

Last Friday (0f 2010) was slow. The Dow inched ahead by 0.07%. For the week, the Dow was virtually flat, advancing only 0.04%, plateauing after a steady 5.2% march upward for December.

Stick a fork in it: The year 2010 is done. The verdict? "Not too shabby." All three major market indexes registered double-digit annual gains, settling near annual highs. Looking ahead, we remain bullish on U.S. equities but must also concedes the case for a pullback at the beginning of the year.

Wall Street’s theme going into 2011 is how bullish everyone seems to be on the economy, but that optimism should be tempered by the knowledge that housing, lending and jobs have yet to recover.

Yet, the new year is likely to be better “for earnings, balance sheets and growth, which will likely translate into higher home prices, more loans and an increase in employment,”

Looking Back on 2010

SPX is up more than 10%, but it took all year to get there

The S&P 500 Index was similarly torpid for the week, settling in the black by only 0.07%, but registering a 6.5% win for the month. Those of us who follow the market closely can usually spew forth the current price of all the major stock indexes on demand. Not nearly as many are attuned to the gains or losses for these indexes over important time frames, but this additional information can actually be quite valuable. For example, the S&P 500 Index (SPX) has gained 11.46% year-to-date.

The Nasdaq Composite, on the other hand, slipped 0.5% in the final week of the year, but gained 6.2% for the month.

The final tally for the year: The Nasdaq Composite led the charge with an impressive 17% surge, followed by the S&P 500 Index, which advanced 13%, while the Dow brought up the rear, at 11%. Still, not too shabby, indeed.

EXPERT QUOTES (analysts, economists, staticians, strategists ... blah blah blah)

"I predict deep into the year the Fed, through mental telepathy or a hidden word woven through a statement, will transmit the idea that it will start tightening rates by .0000001 of a percent during the year."

"U.S. markets will rally as the president moves more to the middle and businesses realize they have two years to prove friendlier policies work for everyone. Plus history is on side of market see 1984, 1952, 1920 and 1893."

"I think that 2011 will be a relatively tame year compared to what we have seen since 2007. There is plenty of fear out there. From a second dip in housing and European contagion to a self-imposed, government-run slow down of the Chinese economy and states in fiscal crisis. Much could go wrong, but I have the sneaky suspicion we will be talking about many of these same fears a year from now. The U.S. stock markets will experience a gradual ascent by year end as fears continue to subsidise.

"I have trouble predicting what's going to happen later today, but I will say that 2011 feels like it will finally be the year of economic recovery."

"Experts I talk to say we will see Dow 12000 before Dow 10000"

"A growing pool of evidence points to much higher economic growth and even higher stock prices next year. The causes go well beyond low interest rates, higher capital levels at banks or even the latest pickup in retail sales. It's always risky to predict economic gains with the community-organizer-in-chief still in the White House and businesses grappling with his "signature achievement," ObamaCare."

"Having put half of my dough into stocks for the first time since the 2008 crash, I feel pretty confident about 2011. I would say we could go up another 15% or more by the end of 2011."

WISHING YOU A PROSPEROUS 2011

HAPPY TRADING

WALL STREET >>> Dow end 2010 at Pre-Lehman Brothers Levels

Bulls End The Year With 7.8pts Finale
11% Gains For 2010

It was another quiet session on Wall Street, with volume on the New York Stock Exchange totaling fewer than 600 million shares . However, after 12 months that were jam-packed with market melodrama -- including the May 6 flash crash, the European debt crisis, and the resurrection of General Motors -- the past week's worth of relative calm was a welcome change of pace. With very little in the way of data to drive the day's action, stocks wobbled back and forth between positive and negative territory. Despite a mixed finish to the session, though, all three major market indexes ended the month, and the year, with impressive gains.

The Dow Jones Industrial Average (DJIA – 11,577.51) settled for a slim gain of 7.8 points, or 0.07%, as 19 of its 30 components closed higher. Alcoa (AA) led the advancing blue chips, while Chevron (CVX) and Intel (INTC) paced the eight decliners. Meanwhile, Cisco Systems (CSCO), Kraft Foods (KFT), and McDonald's (MCD) all closed the session right where they started. Caterpillar was the best-performing Dow component of 2010, adding 64% during the past 52 weeks, while Hewlett-Packard (HPQ) lagged its peers with an 18.3% swoon.

The Dow ended the week up just 0.04%, but notched a healthy gain of 5.2% in December. In the process, the Dow collected its first monthly finish north of 11,500 since August 2008 -- just weeks before the infamous Lehman Brothers collapse that marked the onset of the U.S. financial crisis.

For the year, the blue chip barometer rose 11%.

The S&P 500 Index (SPX – 1,257.64) ended fractionally lower, shedding 0.2 point, or 0.02%. The SPX added 0.07% for the week, and tacked on 6.5% in December -- bringing its 2010 advance to a healthy 12.8%. The broad-market bellwether remains pinned beneath short-term pressure at 1,260, but managed a monthly finish above 1,250 for the first time since August 2008.

Finally, the Nasdaq Composite (COMP – 2,652.87) turned in the worst daily performance -- but easily one-upped its peers on an annual basis. The COMP gave up 10.1 points today, or 0.4%, pushing the tech-rich index to a weekly deficit of 0.5%. However, the COMP added 6.2% for the month, and rose 16.9% in 2010. The COMP closed below its 10-day moving average for the first time since Nov. 30, but settled the month above 2,600 for the first time since December 2007.

ANALYSTS (year end) QUOTES

Nine out of ten Americans who buy a home do so by borrowing via a mortgage, and people need stable jobs in order to feel comfortable taking on that kind of debt.”

The U.S. housing market is an “Achilles heel of the economy.”

“It’s all about the employment market. And I’m not just talking about employment but stable employment.”

ZLBT WISHES EVERYONE & THEIR FAMILIES
"HAPPY & PROSPEROUS 2011"