U.S. stocks declined broadly on Tuesday as China's devaluation of its yuan currency hit companies with a big exposure to the world's No. 2 economy and added to worries about the global economic outlook.
Hong Kong stocks surrendered earlier gains and ended lower on Tuesday, weighed down by Chinese airlines and importers, sectors seen likely to be hurt by a weaker Chinese yuan currency.
Plan A : Above 24520, do nothing
Plan B : Below 24214, do nothing
Plan C : Attempt selling if market stays below 24448
Plan D : Cut above 24520
Plan E : Buying to be considered only if market rebounds from 24269 and triggers a buy
Plan F : Cut below 24269
FKLI
Market continued its bear trend with market treading water at 1608.5 before rebounding to close at 1627.5 yesterday. Market is expected to remain weak today after overnight Dow lost 212-points. Any rebound would be seen as an opportunity to sell
Plan A : Attempt selling as long as market stays below 1634
Plan B : Cut above 1641
Plan C : No buying to be attempted for the time
Plan D : Next supports seen at 1607 and 1593
FCPO
FCPO flattened for the day after a gap-up on Tuesday morning. Dalian and soybean oil are quite mixed while Ringgit recorded new high at RM4 against the US Dollar today. Market has been trying to break through for rebound but in vain with several attempts. It could be continue to move down South if resistances are not breach today.
Plan A : Intraday investor and fresh seller may sell if market could not break 2047. Immediate target are 2024, 1993 and 1985. Longer term target are 1956 and 1936.
Plan B : Buyer may stay out unless market could support above 2047. If not, stay out.
Plan C : Above 2050, do nothing.
Plan D : Below 2020, do nothing.
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