U.S. stocks rose on Tuesday, boosted by upbeat results from companies including Merck & Co and a rebound in Facebook and other high-growth shares. The Fed's two-day policy meeting began on Tuesday, with the central bank expected to again scale back its monthly bond purchase program. Investors will also be eager to get any guidance on when it might raise interest rates.
Mainland stocks surged in the final hour of trading on Tuesday, with the Shanghai Composite Index climbing one percent over the final hour of trade, leaving the index up 0.8 percent at the close. It also had a knock-on affect on the Hong Kong market, with the HSI gaining more than one percent in the final hour before close. China is due to release its manufacturing PMI data tomorrow when most of global markets will be close for Labour Day Holiday.
Plan A : Above 22322, do nothing
Plan B : Below 22151, do nothing
Plan C : Consider selling if market opens gap up but fails to break above 22322
Plan D : Cut above 22466
Plan E : Consider buying if market corrects and rebounds strongly from near 22151 level
Plan F : Cut below 22106
FKLI
Market was seen holding firm despite selling pressure in small cap counters. FKLI successfully defended its support above 1853 and settled at day's high level.
May month contract
Plan A : Attempt buying around 1853
Plan B : Cut below 1848
Plan C : Consider intraday selling if market fails to break above 1861
Plan D : Cut above 1864
FCPO
FCPO has finally broken out from consolidation and deliberately chose its path to trend down. It closed at low of 2636 yesterday at the eleventh hour.
Plan A : Overnight seller could hold on to position. Resistance is looking at 2651 and target is looking at 2524.
Plan B : Fresh seller could make entrance taking 2651 as resistance. Intraday profit target looking at 2572 and 2592. Seller could opt to hold on position if miss out selling yesterday.
Plan C : Buyer may stay out today.
Plan D : Above 2660, do nothing.
Plan E : Below 2570, do nothing.
*Disclaimer: This information is intended to assist professional investors. 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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