ZLBT's Morning Markets Round-up

Malaysian Shares May Face Renewed Pressure The Malaysian stock market turned right back to the upside again on Monday, one session after it had ended the two-day winning streak in which it collected nearly 10 points or 0.7 percent. The Kuala Lumpur Composite Index finished just above the 1,495-point plateau, although now investors are bracing for a soft start when the market opens on Tuesday.

The global forecast for the Asian markets remains cautious on persistent concerns over debt woes in Europe and tensions on the Korean peninsula. Airlines, telecoms and technology stocks are likely to fall under pressure, although the oil and financials stocks may provide a bit of support. The European and U.S. markets finished lower, and the Asian bourses are also expected to trend to the downside.

The KLCI finished barely higher on Monday as gains from the financial shares and industrial issues were largely pared by selling from the plantation stocks.

For the day, the index added 3.90 points or 0.26 percent to finish at 1,495.95 after trading between 1,474.02 and 1,495.95. Volume was 1.05 billion shares worth 1.93 billion ringgit. There were 463 decliners and 293 gainers, with 274 stocks finishing unchanged.

Among the actives, Petronas Chemicals, KNM Group, Karambunai Corp, CIMB, Sime Darby all finished higher, while Maybank ended lower.

WALL STREET

Irish Rescue Plan Fail To Lift Dow
The markets draw a negative lead from Wall Street as stocks ended Monday's session mostly lower but were able to recover from steep losses in the final hour of trading. Worries about Portugal and Spain's potential debt woes after news of a bailout for Ireland failed to keep stocks firmly negative on the day, as optimism regarding a continued U.S. economic recovery based on retail sales moderated the downside.

After discussions over the weekend, European finance ministers reached an agreement for an 85 billion euro financial assistance package for Ireland. Around 35 billion euros will go toward propping up Ireland's banking system, while the remaining 50 billion euros will cover the day-to-day financing of the state.

Nonetheless, the resolution did little to instill confidence that bond vigilantes won't target similarly challenged Portugal and Spain, prompting some early-day losses among stocks. Noted economist Nouriel Roubini encouraged Portugal to accept assistance before a crisis sets in, but he suggested that Spain was too large an economy to be bailed out by its neighbors.

The Dow Jones Industrial Average (DJIA – 11,052.49) spent a healthy part of the session with a triple-digit deficit, but pared its losses as the session progressed, ending on a loss of 39.5 points, or 0.4%. Eighteen of the Dow's 30 blue chips finished lower, led by Hewlett-Packard (HPQ) and Home Depot (HD), while financial concerns American Express (AXP) and Bank of America (BAC) paced the 11 advancing equities; meanwhile, Procter & Gamble (PG) finished right where it began.
The S&P 500 Index (SPX – 1,187.76) settled with a loss of 1.6 points, or 0.1%.

The broad-market barometer was the lone index to explore positive territory, but ran into a wall at its 10-day moving average. Finally, the Nasdaq Composite (COMP – 2,525.22) also pared its deficit in the final hours of trading, giving up 9.3 points, or 0.4%, by the close. Nevertheless, the tech-rich index maintained its perch atop its own 10-day trendline.

In the U.S., the economic calendar was light, although a number of key reports are due out over the course of the week. November's employment report and the results of Institute for Supply Management's manufacturing survey are likely to be in focus.

HAPPY TRADING

Technical Analysis : FBMKLCI 29/11/2010 / 综合指数 2010年11月29日

FBM KLCI 29 November 2010

As indicated by A, the FBM KLCI had an early loss on Monday, reaching its daily low or 1487.17. However, the KLCI picked up some strength, and even closed with a gain of 3.90 points at 1495.95 points. Resistance for the KLCI remains at 1500 while the support is still at 1487 WinChart Automatic Fibonacci Retracement.

As shown on the chart above, the Bollinger Bands contracted 23%, and this shows that the KLCI is consolidating; however, immediate technical outlook for the KLCI remains weak, as it is still below the Bollinger Middle Band.

As indicated by B, total market volume fell 23%, and it is now below the 40-day volume moving average. This shows that the market is generally in-active, or it implies that the sentiment is weakening. Generally, when volume is low, the KLCI is likely to consolidate.

As indicated by C, the Stochastic breaks above 50%, as the short term movement of the KLCI picks up a little strength. Technically, the Stochastic has to break above 70% in order to signal a short term bullish movement for the KLCI.

Immediate technical outlook for the KLCI remains weak as it is still testing 1500 and also resisted by the 14, 21, 31 EMA. But it is still too soon to call for a valid downtrend for the KLCI.

综合指数 2010年 11月 29日

如图中箭头A所示，富时综合指数一度下滑，并且跌破1487.17点的费氏线线，惟综指随后回弹，并且重新获得1487点的扶持，综指最终上扬3.90点或0.26%，以1495.95点闭市。综指目前仍然受到1500点心理水平的阻力，支持水平则仍然维持在1487点的费氏线。

如图所示，布林频带（Bollinger Bands）收窄23%，这显示综指持续的处于一个调整巩固的格局中，由于布林中频带目前处于1500点的阻力水平，所以综指未能突破此重叠的阻力，无论如何，接下来若综指能成功的上扬突破布林中频带，综指将有望形成转强的格局，反之若综指继续受制于布林中频带的阻力，综指的后市则有进一步转弱的风险。

图中箭头B所示，马股成交量处于40天成交量移动平均线（VMA）以下的水平，这显示综指在布林频带收窄时，出现淡静的格局，这通常发生在综指横摆巩固时。
如图中箭头C所示，随机指标（Stochastic）上扬突破50%的水平，这显示综指的短期走势从弱势中恢复至中和的水平，接下来若随机指标继续上扬，并且突破70%的水平，综指的短期走势将有望重新进入短期上扬的格局。

虽然综指回弹，惟综指仍然受到1500点心理阻力、布林中频带以及31天加权移动平均线（EMA）的阻力，所以综指上扬突破这些水平可说是困难重重。接下来若外围因素开始转好，再加上综指突破上述提到的阻力线，综指才有望成功摆脱跌势，恢复上扬的趋势。

Technical Analysis : 综合指数 2010年11月24日/FBMKLCI 24/11/2010

综合指数 2010年 11月 24日
由于受到外围因素的影响，马股早盘出现投资者惊慌抛售的情形，使到富时综合指数开低，出现缺口（Gap）。如图中箭头A所示，富时综合指数一度跌破1487点的费氏线，惟综指随后回弹，回补开市缺口，综指当前的支持水平继续是1487点及1459点的费氏线，阻力水平则维持在1500点的心理阻力关口。

如图所示，布林频带（Bollinger Bands）一度打开，惟综指在布林下频带上获的扶持而回弹，无论如何，由于综指目前仍然处于布林中频带以下，所以接下来若布林频带进一步的打开，那综指将有继续下跌的风险，直到综指上扬突破布林中频带为止。

图中箭头B所示，马股成交量减少9.40%，这使到成交量仍然低于40天成交量移动平均线（VMA），这是市场在出现调整时，有步入淡静或转弱格局的现象。

如图中箭头C所示，随机指标（Stochastic）在跌至0%的超卖水平后回弹，这也使到综指稍微回弹，不过由于随机指标仍然低于30%的水平，所以综指的短期走势仍然算是一个下跌的格局，直到随机指标上扬突破30%为止。

综指目前已跌破了14、21、31天加权移动平均线（EMA），所以综指的中期走势有转弱的风险，一般上若综指未能短期内重返EMA以上，那在综指形成了另一个较低的顶（Lower-High）后，综指的后市将会被确认形成跌势。

综指在创新高后出现套利，再加上外围因素的负面影响，综指有倾向出现转弱的现象，无论如何，接下来若综指迅速回弹，并且重新回到EMA及布林中频带以上，综指还是有望避开这一轮转弱的窘境。

FBM KLCI 24 Nov 2010
Due to the over-night losses of the US Markets, the KLCI opened gap down on Wednesday, but it managed to recover all its losses, and even gaining 1.01 points at the close. As indicated by A, support for the KLCI remains at 1487 and 1459 WinChart Automatic Fibonacci Retracement while the resistance is still at 1500.

Despite the KLCI rebound, the immediate technical outlook remains on the negative side as it is still below the Bollinger Middle Band. If the Bollinger Bands should begin to contract, it would be a signal suggesting a consolidation for the KLCI.

As indicated by B, total market volume fell 9.4%, with volume below the 40-day volume moving average. In short, the market is quiet. If volume should stay low, the KLCI or the general market sentiment is less likely to pick up any strength.

As indicated by C, the Stochastic rebounded after hitting 0%. But it is still below 30% now, thus suggesting a short term bearish signal for the KLCI. The short term bearish signal shall remains intact, until the Stochastic could break above 30%.

As the KLCI fell below the 14, 21, 31 EMA, the technical outlook for the KLCI is now turning bearish. If the KLCI should form a lower-high, it would be a signal suggesting a downtrend formation. In short, the KLCI has to return to above the 14, 21, 31 EMA in order to avoid further dampen to its technical view.

HAPPY TRADING

Technical Charts >>> Crude Oil / Soybean Oil

Technical Outlook

CRUDE OIL (JAN) 11/19/2010

The cross over and close above the 60-day moving average indicates the longer-term trend has turned up. Declining momentum studies in the neutral zone will tend to reinforce lower price action. The close below the 9-day moving average is a negative short-term indicator for trend. The market setup is supportive for early gains with the close over the 1st swing resistance. The next downside objective is now at 80.41. The next area of resistance is around 83.90 and 84.41, while 1st support hits today at 81.90 and below there at 80.41.

January Crude Oil closed up 1.85 at 82.89. This was 1.97 up from the low and 0.03 off the high.

Technical Outlook

SOYBEANS (JAN) 11/19/2010

Momentum studies trending lower at mid-range should accelerate a move lower if support levels are taken out. The market's close below the 9-day moving average is an indication the short-term trend remains negative. A positive setup occurred with the close over the 1st swing resistance. The next downside objective is now at 1179 1/4. The next area of resistance is around 1267 3/4 and 1282 1/2, while 1st support hits today at 1216 1/4 and below there at 1179 1/4.
January Soybean Oil finished up 2.00 at 51.25, 0.02 off the high and 2.5 up from the low.

HAPPY TRADING

WALL STREET >>> GM, Ireland Awaken The Bulls

DJIA Adds 1.57% on Irish Optimism, GM Homecoming

Irish Eyes Are Smiling

Stocks spent the session basking in the black today, thanks to easing concerns about Irish debt, upbeat economic data and the celebrated homecoming of General Motors (GM) to Wall Street. More specifically, escalating expectations that debt-strapped Ireland would accept monetary help from its European neighbors sent stocks soaring right out of the gate, and GM's well received return to the New York Stock Exchange (NYSE) more than stoked the bullish flames. As such, a slimmer-than-anticipated jump in weekly jobless claims, as well as a dose of stronger-than-expected manufacturing data, was merely icing on the cake, with the major market indexes advancing more than 1.5% by the close.
The burst of buying allowed Wall Street to quickly recapture about half of the losses chalked up from the past week’s bearishness. The widespread rally was the markets’ best in two weeks.

The Dow Jones Industrial Average (DJIA – 11,181.23) maintained a triple-digit surplus throughout the session, finishing with a gain of 173.4 points, or 1.6%. In fact, 29 of the Dow's 30 blue chips ended higher, led by industrial issues Alcoa (AA) and Boeing (BA), while Intel Corp. (INTC) was the lone black sheep in the red. However, while today's impressive rally helped to offset most of the Dow's recent retreat, the blue chip barometer's upward trajectory ran into a roadblock in the 11,200 region – home to its 20-day moving average.

The S&P 500 Index (SPX – 1,196.69) followed the Dow's lead, advancing 18.1 points, or 1.5%. Nevertheless, the broad-market index ran out of steam in the 1,200 neighborhood – home to its own 20-day trendline.

In similar fashion, the Nasdaq Composite (COMP – 2,514.40) tacked on 38.4 points, or 1.6%, to reclaim its perch atop the 2,500 level. However, similar to its peers, the tech-rich COMP couldn't muster enough strength to conquer its 20-day moving average.

ANALYST QUOTE : “The market is shrugging off the concerns of the last several days and finally got tired of going down. The bulls decided to step on the gas pedal.”

HAPPY TRADING

MALAYSIA DERIVATIVES EXCHANGE >>> CPO Futures

Beijing Clarifies Food Oil Curbs Policy

Volatile CPO Rebound On Relief Rally

Crude palm oil futures on Bursa Malaysia Derivatives rebounded Thursday, erasing sharp early losses as concerns eased about China’s intention to curb rising food prices.

Most agricultural commodities fell sharply Wednesday following reports that China may place tighter controls on food prices and take measures to slow demand growth.

The benchmark February palm oil contract ended MYR53 higher at MYR3,318 a metric ton, after stumbling 4.6% in early trade to MYR3,114/ton, its lowest level in two weeks. December 2010 gained RM64 to RM3,335 per tonne, January 2011 advanced RM63 to RM3,333 per tonne and March 2011 increased RM51 to RM3,306 per tonne.

China is the world's largest consumer of edible oils, and changes in its import requirements for palm oil and soyoil influence global prices.

However, trading executives said Beijing's policy changes won't significantly affect the country's appetite for edible oils.

Selling pressure eased during the afternoon session because market participants were encouraged by a rebound in soyoil and corn futures during Asian hours, and by weak production growth in November due to continuing monsoon rains.

Soyoil's rise above 50 cents a pound helped to push palm oil prices above the psychological level of MYR3,300/ton, said a trading executive at Kuala Lumpur-based commodities brokerage.

Open interest on the BMD was 77,459 lots, versus 75,133 lots Tuesday. One lot is equivalent to 25 tons.

Overall, daily volume surged to a record high of 41,879 contracts, a level last seen in two years.

(Does the volume tells you something?)

Another 4K CPO is not impossible :P

DEJA VU

CPO Rekomen

BUY ON DIP / WEAKNESS

(Keep Stops Handy >>> Compulsory !!!)

Technical Analysis : 综合指数 2010年11月18日/FBMKLCI 18/11/2010

综合指数 2010年 11月 18日
如图中箭头A所示，富时综合指数下跌6.89点或0.46%，以1596.65点闭市，综指跌破了1500点的心理支持关口，惟综指再度精确的在1487.17点的费氏线获得扶持而回弹，这是综指当前的支持线，综指当前的阻力水平则是1500点及1532点的费氏线。

如图所示，布林频带（Bollinger Bands）打开11%，而综指已处于布林中频带以下了，所以综指开始有转弱的迹象，接下来若布林频带继续打开，而综指又持续处于布林中频带以下，那综指将形成一个跌势，直到布林频带打开的幅度减少为止。

图中箭头B所示，马股的成交量减少15.20%，所以成交量跌破了40天成交量移动平均线（VMA），这显示综指在有转弱迹象的当儿，投资者开始选择离场观望，静待观察综指进一步的演变。通常若成交量减少，综指将倾向于调整或横摆巩固。

如图中箭头C所示，随机指标（Stochastic）再度跌破30%的水平，这表示综指的短期走势开始转弱，换句话说，若随机指标短期内未能回弹上扬突破30%的水平，综指的短期走势将形成一个下跌的趋势。

总的来说，布林频带稍微打开显示综指有转弱的迹象，这也可从随机指标跌破30%看出，所以接下来若布林频带进一步打开，而随机指标则维持在30%以下，综指将会形成一个下跌的趋势。换句话说，接下来综指必须立即回弹，随机指标也应反弹至30%以上，再加上布林频带稍微，那综指才有望避开进入下跌的趋势。

FBM KLCI 18 November 2010
As indicated by A, the FBM KLCI fell 6.89 points or 0.46% on Thursday, to close at 1496.65 points, breaking below the 1500 level by margin, but it managed to stay above the 1487.17 WinChart Automatic Fibonacci Retracement, which is the support for the KLCI, while the resistance is at 1500 followed by 1532.

As shown on the chart on the left, the Bollinger Bands expanded 11%, with the KLCI below the Bollinger Middle Band, thus immediate technical outlook for the KLCI is slightly negative. If the KLCI should continue to expand while the KLCI stays below the Bollinger Middle Band, more downside movement is expected for the KLCI.

As indicated by B, total market volume fell 15.2%, with volume below the 40-day volume moving average. This shows that the market participation has reduced, and it is a sign of lack of confidence as investors stay on the sidelines.

As indicated by C, the Stochastic breaks below 30%, entering the short term bearish region, and if the Stochastic should stay below 30%, the market movement for the short term is likely to stay bearish bias.

In conclusion, immediate technical outlook for the KLCI is slightly on the negative side, but the KLCI has not formed a downtrend yet, for the 14, 21, 31 EMA is still supporting the KLCI.

HAPPY TRADING

ZLBT's Pre-Opening Markets Round-up

Malaysian Market May Surrender 1,500-Point Level
The Malaysian stock market has finished higher now in two straight sessions ahead of Wednesday's holiday for Hari Raya Aidiladha - collecting just 4 points or 0.3 percent along the way. The Kuala Lumpur Composite Index remained just above the 1,500-point plateau, although now investors are bracing a modest decline as the market catches up on some negative momentum.

The global forecast for the Asian markets is flat with a touch of upside following a couple of sessions of heavy selling. Telecoms are expected to provide support, as are oil companies, properties and retailers - although financials may remain under pressure. The European markets finished slightly higher and the U.S. bourses ended mixed but little changed - and the Asian markets are also expected to tick higher.

The KLCI finished barely higher on Tuesday as gains from the industrial issues were erased by selling among the financial shares and the plantation stocks.For the day, the index added 1.98 points or 0.14 percent to finish at 1,503.54 after trading between 1,491.76 and 1,504.42.

Volume was 1.325 billion shares worth 1.736 billion ringgit. There were 645 decliners and 203 gainers, with 253 stocks finishing unchanged. Among the actives, Timedotcom, Time Engineering, Maybank and CIMB all finished lower, while Genting was unchanged and Sime Darby ended higher.

WALL STREET : Stocks End Mixed as Bears Take 5

Stocks flirted with modest gains today, as traders considered some mildlsoothing economic data. First up, the Labor Department revealed that core consumer prices rose just 0.6% in October on a year-over-year basis, marking the smallest increase on record. This tame report effectively calmed some of the inflationary fears sparked by the Fed's latest round of quantitative easing -- and, in fact, the data seemed to lend support to the central bank's argument that deflation is a more pressing concern.

Meanwhile, investors also learned that representatives from the European Commission, the European Central Bank, and the International Monetary Fund will pay a visit to Ireland on Thursday. Ollie Rehn, the European Union's commissioner for economic affairs, said the group will collaborate with Ireland "to determine the best way to provide any necessary support to address market risks, especially as regards the banking sector."

With the storm cloud of uncertainty hanging over the market starting to clear up, bears took a bit of a break from their recent selling spree.

In fact, the Dow Jones Industrial Average (DJIA – 11,007.88) was the only one of the three major market indexes to close lower today.

After spending time on both sides of breakeven, the Dow settled for a modest loss of 15.6 points, or 0.1%. Only 11 of the Dow's 30 components closed higher, with McDonald's (MCD) leading the pack. Meanwhile, Home Depot (HD) and Bank of America (BAC) set the pace for the 19 decliners. Despite today's dip, the Dow remains above both the 11,000 level and its rising 50-day moving average.

The S&P 500 Index (SPX – 1,178.59) barely budged today, adding just 0.3 point by the close. The SPX is trading directly above reliable support at its rising 10-week moving average.

Finally, the Nasdaq Composite (COMP – 2,476.01) turned in the day's best performance by adding 6.2 points, or 0.3%. The looming 2,500 level could become a short-term point of contention for the COMP, as this round-number region marked the site of its bearish gap on Tuesday.

CRUDE HIT BY 4th CURVE BALL

Crude futures extended their losing streak to a fourth straight session, as traders continued to fret over the prospect of a rate hike from China. The threat of slower economic growth from the key oil-consuming nation seems to be the primary catalyst for commodity traders right now -- today's decline came even as the U.S. dollar weakened, and the government reported that crude supplies unexpectedly plunged last week by a whopping 7.29 million barrels. By the close, crude oil for December delivery shed $1.90, or 2.3%, to finish at a new four-week low of $80.44 per barrel.

Technical Outlook

CRUDE OIL (JAN) 11/18/2010 >>> The close under the 60-day moving average indicates the longer-term trend could be turning down. Declining momentum studies in the neutral zone will tend to reinforce lower price action. The close below the 9-day moving average is a negative short-term indicator for trend. The close below the 1st swing support could weigh on the market. The next downside objective is 78.95. The next area of resistance is around 82.28 and 83.98, while 1st support hits today at 79.76 and below there at 78.95.

January Crude Oil closed down 1.80 at 81.04. This was 0.39 up from the low and 2.13 off the high.

WALL STREET >>> Bears Emerge On Irish Bailout and Korean Rate Hike

Macroeconomic Mayhem >>> Dow Plummets 1.59%
Concerns about the global economy weighed heavily on U.S. stocks today, as traders continued to price in their concerns about a potential rate hike from China and a looming debt crisis in Europe. Beginning with news out of Asia, a quarter-point rate increase from the Bank of Korea rekindled expectations for a similar move from China's central bank.

The threat of slower economic expansion from the emerging nation has been perceived as a growing threat in recent weeks, particularly with Beijing officials on Monday outlining new restrictions on foreign investment in real estate.

Meanwhile, in Europe, finance ministers convened in Brussels to discuss a potential bailout for debt-laden member countries, such as Ireland and Portugal. Irish Prime Minister Brian Cowen asserted that his country has enough cash on hand to meet its funding needs through the middle of 2011, but many analysts expect European Union officials to push through some kind of rescue package in order to rein in borrowing costs.

Amid this macroeconomic mayhem, U.S. stocks were under pressure all day long, with the Dow Jones Industrial Average making its first trip south of 11,000 since Oct. 20.

The Dow Jones Industrial Average (DJIA – 11,023.50) managed to maintain its footing above 11,000, but not by much. After bottoming out at 10,978.93, the Dow settled on a loss of 178.47 points, or 1.59%, as all but two of its 30 components closed lower. Retail titans Home Depot and Wal-Mart Stores gained ground after their respective earnings reports, while Travelers Companies set the tone for the 28 decliners with its 3.6% slide. After notching its steepest single-day slide since Aug. 11, the Dow is now perched just north of its rising 50-day moving average, located at 10,966.69.

The S&P 500 Index (SPX – 1,178.34) followed suit by giving up 19.41 points, or 1.62%, to notch its lowest daily close since Oct. 20. The SPX found an intraday floor near 1,173, which is home to its 10-week moving average. Finally, the Nasdaq Composite (COMP – 2,469.84) ended on deficit of nearly 43.98 points, or 1.75%, to record its first daily finish south of 2,500 since Oct. 26.

Crude futures spiraled lower today, pressured by the threat of slower economic growth from China -- the world's No. 2 oil consumer. Meanwhile, concerns about European sovereign debt prompted a safe-haven surge for the U.S. dollar, making oil futures less attractive to investors holding foreign currencies.

By the close, crude oil for December delivery gave up $2.38, or 2.80%, to end at $82.72 per barrel. This marks crude's lowest daily close since Oct. 29.

Technical Outlook
CRUDE OIL (JAN) 11/17/2010: The close under the 40-day moving average indicates the longer-term trend could be turning down. Declining momentum studies in the neutral zone will tend to reinforce lower price action. The close below the 18-day moving average is an indication the intermediate-term trend has turned down. The market is in a bearish position with the close below the 2nd swing support number.

The next downside target is 80.56. The next area of resistance is around 83.92
and 85.89, while 1st support hits today at 81.26 and below there at 80.56.
January Crude Oil closed down 2.38 at 82.82.72. This was 0.06 up from the low and 2.61 off the high.

What a lucky day for FKLI LONGs

If not for Hari Raya Haji holiday, you'd had been bearhugged today

Until we meet again tomorrow morning .....

HAPPY HOLIDAY

Technical Analysis : 综合指数 2010年11月16日/FBMKLCI 16/11/2010

综合指数 2010年 11月 16日
如图中箭头A所示，富时综合指数周二一度下跌至1491.76点，惟综指精确的在布林下频带获得扶持而回弹，综指在闭市时收复失地，反而微扬1.98点，以1503.54点闭市，综指当前的支持水平仍然落在1487点的费氏线及1500点的心理关口，阻力水平则是1525点及1532点的费氏线。

如图所示，布林频带（Bollinger Bands）稍微打开1%，而综指已处于布林中频带以下，所以综指一度有形成跌势的迹象，无论如何综指最终回弹，使到布林频带并未明显的打开，所以综指的跌势并未完全形成。

如图中箭头B所示，马股的成交量增加21.94%，这使到成交量再度达到40天成交量移动平均线（VMA），这显示市场仍然活跃，虽然有投资者抛售手上的股票，亦有投资者趁低吸购，所以熊市继续牛市之争还是未知鹿死谁手，有待综指接下来进一步的演变。

如图中箭头C所示，虽然随机指标（Stochastic）一度跌破30%的水平，这使到综指的短期走势转弱，以技术而言，若随机指标处于30%以下，综指的短期走势将一直保持在下跌的格局。由于随机指标在闭市时回弹，并且回到30%的水平，所以综指的短期跌势并未完全形成。

区域股市纷纷下滑，综指也跟随一度出现下跌的趋势，惟综指在最后一分钟扭转乾坤，使到综指收高，以技术而言，综指暂时还是未完全确认下跌的讯号，有待走势进一步的明朗化。一般上，接下来若布林频带开始打开，而综指继续处于布林中频带以下，综指将被视为出现下跌的趋势。

FBM KLCI 11 November 2010
As shown on the chart above, despite the KLCI were mostly lower on Tuesday, it managed to rebound at the last minute, ended the day with 1.98 points to close at 1503.54 points. Support for the KLCI remains at 1487 as well as the 1500 level, while the resistance is at 1525 to 1532 WinChart Automatic Fibonacci Retracement.

Meanwhile, the Bollinger Bands expanded 1%, with the KLCI below the Bollinger Middle Band. However, the expansion of the Bollinger Bands is insignificant, thus not able to show any bearish signal yet.

As indicated by B, total market volume increased 21.94%, with volume above the 40-day volume moving average. Generally, if volume should stay above the 40-day volume moving average, it is a positive sign. However, if the volume should increase with the KLCI falling, it would suggest an increase of selling pressure.

As indicated by C, the Stochastic rebounded, thus breaking above 30%, leaving the short term bearish territory. If the Stochastic should break and stay below 30%, it would be a short term bearish signal for the KLCI.

In short, the KLCI remains in a consolidation and the short term movement shall remains unclear. With the KLCI below the Bollinger Middle Band, the immediate technical outlook is towards the negative side. However, as the KLCI is still above the 14, 21, 31 EMA, the uptrend is not yet violated.

HAPPY TRADING

Malaysia Derivatives Exchange >>> CRUDE PALM OIL FUTURES

Bargain Hunters & Export Data Lift Palm Oil Higher MYR17
The benchmark January contract on the Bursa Malaysia Derivatives exchange ended MYR17higher at MYR3,370 a metric ton, after prices fell as much as 2.2% to an intraday low of MYR3,278/ton whereby staging a moderate recovery from last week’s slump with support from improved export demand and bargain-huntins.

The palm oil market was trading mostly in the red in early trade due to sharp declines in Chicago soyoil and a stronger dollar, before recovering on the back of positive export data.

Cargo surveyor Intertek Agri Services estimated that outbound palm oil sales during the first 15 days of November rose 27% from the same period last month to 747,431 tons.

Another surveyor, SGS Malaysia Bhd., put Nov. 1-15 exports up 28% at 777,761 tons.

Shipments to China rose 80% to 200,030 tons, while sales to the European Union rose 55% to 138,783 tons during the Nov. 1-15 period.

Palm oil shipments to China rose in part because some October shipments were delayed to November due to the week-long holiday break last month in China, traders said.
The dollar-denominated January CPO contract on Globex was $6.75 higher at $1,084.50/ton at 0929 GMT.

Open interest on the BMD was 74,328 lots, versus 74,477 lots Friday. One lot is equivalent to 25 tons. A total of 23,282 lots of CPO were traded versus 29,159 lots Friday.

Chicago Board of Trade soyoil fell as much as 127 points in electronic trading during Asian hours to 51.26 cents a pound. The contract was trading 31 points lower at 52.22 cents a pound by the end of trade on BMD.

CPO Rekomen

BUY ON DIP / WEAKNESS

HAPPY TRADING

ZLBT's Pre-Opening Market Views

Malaysian Market Likely To Hold At 1,500 Level
The Malaysian stock market on Monday ended the two-day losing streak in which it had shed nearly 30 points or 2 percent. The Kuala Lumpur Composite Index finished just above the 1,500-point plateau, and now analysts are expecting to see the market hold steady in that neighborhood at the opening of trade on Tuesday.

The global forecast for the Asian markets is rudderless, thanks to conflicting economic data and no real other impetus. Properties and gold stocks are expected to decline, while financials could see support. The European markets were slightly higher and the U.S. bourses ended mixed - and the Asian markets are expected to fall right in between.

The KLCI finished barely higher on Monday as gains from the plantation stocks and industrials were wiped out by selling from the financials.

For the day, the index added 1.75 points or 0.12 percent to finish at 1,501.56 after trading between 1,497.04 and 1,503.56. Volume was 1.09 billion shares worth 1.26 billion ringgit.Among the actives, Maybank, Sime Darby and KNM Group finished lower and Jotech, Genting and CIMB ended higher.

WALL STREET : Bulls Take A Late-Day Hit; Bonds Selloff
U.S. stocks lost the bulk of their gains Monday as Treasury prices fell sharply, denting cheer that prevailed most of the day after a jump in retail sales and a large acquisition by Caterpillar Inc.

“Treasurys are getting splattered and 10-year yields are at three-month highs; if rates are going up, it’s not a good thing for equities. This is the Fed’s worst nightmare,” said a senior analyst.

Finishing about 80 points away from its session high, the Dow Jones Industrial Average (DJIA 11,202, +9.54, +0.09%) ended up 9.39 points at 11,201.97.
However, while the Dow clawed its way back above the 11,200 level, the blue-chip barometer failed to reclaim its 20-day moving average, marking the Dow's second straight finish south of this trendline. The blue-chip benchmark closed Friday at its lowest level since Nov. 2.

The S&P 500 Index (SPX 1,198, -1.46, -0.12%) lost 1.46 points to 1,197.75, with the financial sector performing best among its 10 industry groups and natural-resource companies faring the worst. Nevertheless, the broad-market index maintained its perch atop its own 20-day trendline.

The Nasdaq Composite Index (COMP 2,514, -4.39, -0.17%) declined 4.39 points to 2,513.82 marking its first finish south of its 20-day moving average since Sept. 1.

For every eight stocks that fell, about seven rose on the New York Stock Exchange, where nearly 880 million shares traded.

The Commerce Department reported that retail sales climbed 1.2% last month on increased appetite for automobiles. Consumer spending rose 1.2 percent last month thanks to higher demand for automobiles, the Commerce Department reported. The gain was nearly double what analysts were expecting. Shares of Ford Motor Co. rose 4.3 percent following the announcement.

Caterpillar Inc., the world's largest construction machinery maker, said it would buy mining equipment maker Bucyrus International Inc. for $7.6 billion in cash, a 32 percent premium over the company's closing price on Friday. Shares of Caterpillar rose 1 percent.

CRUDE OIL FUTURES
Crude futures ended fractionally lower today, as fears over Europe's sovereign debt fueled the U.S. dollar to a six-week high. Furthermore, talk of the restart of ConocoPhillips' (COP) massive New Jersey refinery triggered a late-stage sell-off of gasoline futures, which also weighed on black gold. Against this backdrop, December-dated crude oil futures shed $0.02, or 0.02%, at $84.86 per barrel.

HAPPY TRADING

MALAYSIA DERIVATIVES EXCHANGE >>> FBM KLCI Futures

FKLI Defy The Bears; FBM KLCI Stay Above 1500

ZL's open positions >>> 1491.5 rounded average LONG

Intraday Target 1506 > 1512. Positional Target 1515 > 1525

FKLI Rekomen

SELL INTO STRENGTH Intraday

(keep a handy stop > just in case)
HAPPY TRADING

Technical Analysis : 综合指数 2010年11月15日/FBMKLCI 15/11/2010

综合指数 2010年 11月 15日
如图中箭头A所示，富时综合指数全日以窄幅波动，按日微扬1.75点，以1501.56点闭市，重新回到1500点以上，所以1500暂时成为了综指的支持水平，阻力水平则分别是1525点及1532点的费氏线。

如图所示，布林频带（Bollinger Bands）收窄3%，这显示综指目前正处于一个调整的格局，一般上若布林频带继续收窄，综指将继续横摆巩固，直到布林频带重新打开为止。

如图中箭头B所示，马股的成交量锐减36.98%，这使到成交量跌破了40天成交量移动平均线（VMA），这表示马股整体的走势在综指调整的当儿有步入淡静的迹象，接下来若成交量继续处于40天平均值以下，那综指在失去买盘的扶持下，进入横摆巩固或继续下调的格局。

如图中箭头C所示，随机指标（Stochastic）在30%的水平回弹，这使到综指避开确认形成跌势，所以接下来若随机指标能继续的上扬，那综指的短期走势将有望成功的避开进入下跌的趋势。

总的来说，综指在1487点的费氏线获得扶持后，周一再度走强，虽然幅度有限，不过综指仍然成功的返回1500点水平以上，接下来若综指继续上扬，并且突破布林中频带的动态阻力线，综指转强的机会将有望提高。

FBM KLCI 15 November 2010
As indicated by A, the FBM KLCI was traded in a narrow range on Monday, gaining 1.75 points to close at 1501.56 points. Since the KLCI managed to stay above 1500 mark, the 1500 is now the immediate support for the KLCI while the 1525 to 1532 is the resistance.

As shown on the chart above, the Bollinger Bands contracted 3%, and this suggests that the KLCI is still consolidating, and the consolidation is expected to carry on until the re-expansion of the Bollinger Bands.

As indicated by B, total market volume fell 36.98 %, with volume below the 40-day volume moving average. Usually, when the market is consolidating or when the direction is uncertain, trading volume will generally decline. But if volume should continue to stay low, the KLCI is less likely to pick up its strength.

As indicated by C, the Stochastic rebounded at 30%, and this means that the Stochastic does not trigger a short term bearish signal, and the short term movement for the KLCI is now still neutral.

In conclusion, the KLCI rebounded on Monday, and returned to above 1500 level, and with the Bollinger Bands contracting, the KLCI is expected to consolidate from here, and the consolidation shall carry on until the Bollinger Bands should re-expand.

HAPPY TRADING