A pressured day ahead for FKLI bulls

Preview
Expect futures to trade range bound today with downward bias as US markets slid last night on renewed worries over sovereign debt in the eurozone. Profit-taking activities added to the sell-off as investors booked their profits from the recent end of year rally. Back home, FBMKLCI gained 0.21 percent to finish the day
at 1504.11. The index tested the major resistance level of 1500 from the out-set of trade. However, it fell back to its low of the day at circa 1496 during the mid-point of the morning trade.

From here onwards, the index gradually traded higher with momentum carrying it through 1500 where it settled near its high of the day. Leading movers of the index were Petronas Gas and CIMB. Futures remained a narrow premium over the underlying as expiry draws near.

Technicals
Futures settled marginally higher at 1504.5. A spinning top candle was formed indicating indecisiveness. The bears pressured prices during the early trade. However, the buying interest helped futures recoup the losses. Bullish indicators are still intact as futures held above its 200-day moving average and MACD still on a bullish divergence course. As such, support and resistance levels pegged at 1493 and 1508.

Strategy
Aggressive trade may short with stop on above 1513.

HAPPY TRADING 

FKLI Traders >>> Look to sell FBMKLCI 1500 on weakness

A fair chance for FKLI SELLERS if they wait for a FBMKLCI 1500 breakout followed by a 1500 breakdown support.
 Reminder : Market is above average with substantial strength for a push above the FBMKLCI 1500. The criteria hers is : "Can the KLCI mantain 1500 as support after breakout?"

ZL will be looking to SELL FKLI after CI 1500 breakout and during a reversal. Goodluck. 

Dow, SP 500 recover early losses; Nasdaq falls 0.99%

Yahoo & BoAC squares off Oracle's earning reports

Apparent relief over the Bank of America Corp. BAC settlement and late-breaking report on Yahoo Inc. YHOO helped stocks shed losses in the last hour.

After spending most of the day in the red,  Dow Jones Industrial Average finished up 4.16 points,  or 0.03%, at 12,107.74. The S&P 500 rose 2.42 points, or 0.2%, to 1,243.72. The Nasdaq Composite lagged, dragged down by a sour reaction to Oracle Corp.’s results. The Nasdaq lost 25.76 points, or 1%, to 2,577.97.

Crude-oil futures racked up their third-straight winning session today, getting some momentum from the Energy Information Administration's (EIA) weekly inventories report. For the week ended Dec. 16, the EIA reported a bigger-than-expected drop of 10.6 million barrels in domestic crude supplies, while analysts were expecting a decrease of only 2.25 million barrels. Against this backdrop, oil for February delivery tacked on $1.43, or 1.5%, to close at $98.67 a barrel.

Additional volume needed for any rally

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HAPPY TRADING 

Solid DJIA and Crude Oil Rebounds To Kickstart FKLI and CPO Today

BULLS STORM WALL STREET

FKLI Ready To Rock & Roll

 The DJIA skyrockets 337.32 points (+2.87%) last night on better Housing Data & moderate Eurozone debt yields. Traders went to town shopping & bargain hunting in true Christmas spirit.

On the local front, the futures index is expected to spike closer to the psychological 1500 Resistance level today.

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 Upbeat US housing data bolstered hopes for domestic energy demand. In addition, escalating concerns about Iran's nuclear capabilities sparked concerns about supplies, which also added to black gold's momentum. By the close, January-dated crude futures advanced $3.34, or 3.6%, to end at $97.22 per barrel.

Profit takings in the greenback (USD) also boosted the rebound making oil a cheaper buy for energy and commodity traders. 

Local palm oil traders on MDEX are expected to further support CPO prices on supply tightness and spillover of overnight soyoil  gains. Soy futures tagged on another 49 cents ( 0.98% ) to close at 49.53 as rally picks up steam.

 CPO may shrug off macro worries and resume its uptrend in coming sessions if prices "rise past MYR3,030/ton in the near term," a Kuala Lumpur-based analyst said.

CPO prices envisaged to close-in on the 3100 mark.

  

HAPPY TRADING 

FKLI Indicators Turning Positive

 FKLI 1500 Within Touching Distance

HAPPY TRADING