Wall Street racked up its biggest one-day gain in four years on Wednesday as fears about China's economy gave way to bargain hunters emboldened by expectations the U.S. Federal Reserve might not raise interest rates next month.
Hong Kong shares surrendered early gains and ended Wednesday lower, after excitement over China's rate cuts cooled and sentiment was soured by a renewed sell-off in mainland markets in the afternoon. Meanwhile, U.S. will be releasing its Q2 GDP tonight.
Plan A : Above 21491, do nothing
Plan B : Below 21004, do nothing
Plan C : Attempt selling if market rebounds but fails to break above 21286
Plan D : Cut above 21286
Plan E : Consider buying only if market holds firm above 21032 and rebounds
Plan F : Cut below 21004
FKLI
Market showed signs of reversal yesterday, triggering some buying signals along the way. Market look likely to stay firm today, taking cue from overnight strong performance of U.S. market.
Plan A : Attempt buying as long as market stays firm above 1565
Plan B : Cut below 1554
Plan C : Consider intraday selling only if market fails to breach above 1589
Plan D : Cut above 1601
FCPO
FCPO continued to head south yesterday with market opened high and closed day low. Bean and Dalian remains weak and this coincide with bearish trend of FCPO. Higher to sell is still the best technique to trade for the time being. However, intraday investors must refrain from selling too low eventhough market is on a down trend.
Plan A : Overnight seller hold on to position. Resistance is looking at 1904. Target is 1832 and 1804.
Plan B : Intraday investor may sell if market could rebound and resist at 1884. Target is 1832.
Plan C : Buyer may need to wait for opportunity. Subscriber, will keep you updated.
Plan D : Above 1910, do nothing.
Plan E : Below 1840, do nothing.
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*Disclaimer: This information is intended to assist professional investors. News are credit courtesy of Reuters and CNBC. The information does not constitute investment advice or an offer to invest or to provide management services and is subject to correction, completion and amendment without notice.As with all investments, there are associated risks and you could lose money investing. Prior to making any investment, a prospective investor should consult with its own investment, accounting, legal and tax advisers to evaluate independently the risks, consequences and suitability of that investment.
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