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Malaysian Stocks Poised To Open Higher
The Malaysian stock market on Wednesday wrote a finish to the three-day losing streak in which it had shed more than 30 points or 2 percent. The Kuala Lumpur Composite Index finished just above the 1,535-point plateau, and now traders are anticipating continued expansion at the opening of trade on Thursday.The global forecast for the Asian markets is positive economic and earnings news. Technology stocks are expected to provide support, along with commodity and resource plays. The European and U.S. markets finished higher, and the Asian bourses also figure to track to the upside. The STI finished modestly higher on Wednesday on gains from the financial shares, property stocks and plantations.

For the day, the index collected 9.67 points or 0.63 percent to finish at 1,535.59 after trading between 1,517.84 and 1,539.70. Volume was 1.173 billion shares worth 1.672 billion ringgit. There were 610 gainers and 204 decliners.Among the actives, Petronas Chemical, Axiata, CIMB Holdings, Tenaga Nasional and Maybank all finished higher, while Sime Darby and Public Bank ended lower.

The lead from Wall Street is cautiously optimistic as stocks saw considerable volatility on Wednesday after ending the previous session sharply lower. The choppy trading came as volume remained below average amid uncertainty about the near-term outlook for the markets. While relatively upbeat retail sales data contributed to some initial strength on Wall Street, buying interest waned not long after the open.

WALL STREET : DJIA Ends Hot-and-Cold Session Higher

DJIA, SPX, and COMP remain south of their 10-day trendlines
Stocks hemmed and hawed around the breakeven line today, as the Street digested blue-chip earnings, Beige Book data, a budget speech, and bank sanctions, among other things. On the earnings front, initial optimism over JPMorgan's (JPM) revenue figures faded by midday, after the financial firm's CEO warned investors not to expect additional dividend hikes anytime soon. Elsewhere, a lackluster retail sales report from the Commerce Department also helped to rain on the bulls' early parade. Meanwhile, a rally in the tech sector and President Obama's deficit-cutting plans helped stocks bounce back from intraday lows, though the Federal Reserve's Beige Book -- which indicated that Japan's earthquake may be taking a bigger-than-expected toll on the U.S. economy -- and news that federal regulators sanctioned a slew of U.S. banks for "misconduct and negligence" kept the afternoon rebound in check. Nevertheless, the bulls ultimately prevailed by the close, with all three major market indexes ending a hot-and-cold session with modest gains.

The Dow Jones Industrial Average (DJIA – 12,270.99) settled with a slim gain of 7.4 points, or 0.06%, as 16 of its 30 components ended higher. Leading the advancers was Caterpillar (CAT), while Bank of America's (BAC) 1.5% dip in the wake of government sanctions led the 13 laggards. The shares of Pfizer (PFE) essentially epitomized the session by finishing flat.

Meanwhile, the S&P 500 Index (SPX – 1,314.41) eked out a gain of 0.3 point, or 0.02%, but ended on the south side of both its 10-day and 20-day moving averages for the first time since March 18. On the other hand, the Nasdaq Composite (COMP – 2,761.52) fared the best of the three, advancing 16.7 points, or 0.6%, thanks to a solid day for tech stocks. Nevertheless, the COMP couldn't muster up enough momentum to reclaim its perch atop its 10-day trendline.

TECHNICAL ANALYSIS 14 April 2011
Dow Jones Industrial Average
Daily stochastics turning lower from overbought levels is bearish and will tend to reinforce a downside break especially if near term support is penetrated. The market's close below the 9-day moving average is an indication the short-term trend remains negative. The upside closing price reversal on the daily chart is somewhat bullish. It is a mildly bullish indicator that the market closed over the pivot swing number. The next downside target is 12167. The next area of resistance is around 12329 and 12354, while 1st support hits today at 12235 and below there at 12167. The Dow Jones Industrial Average(DJIA 12,270.99, +7.41, +0.06%)  closed up 7.41 points at 12,270.99, with 16 of its 30 components on the rise.

HAPPY TRADING