2 July 2014

HSI Futures

The Dow and the S&P 500 closed at record highs on Tuesday as manufacturing activity picked up in the United States and Asia and increased optimism about the global economy's health. The U.S. stock market will be closed on Friday for the Independence Day holiday on the Fourth of July.

China's major indexes slipped on Tuesday, as early gains for banks on new lending rules were erased and solid manufacturing data failed to help stocks. Hong Kong was closed yesterday with trading resuming today. U.S. unemployment data and ECB rate decision due tomorrow will be focus for this two days trading although both unemployment rate and ECB interest rate is expected to be unchanged. 

Plan A : Above 23199, do nothing
Plan B : Below 22920, do nothing
Plan C : Consider selling if market fails to break above 23199 and retrace again
Plan D : Cut above 23305
Plan E : Attempt buying if market holds firm above 22920 and triggers a buy again
Plan F : Cut below 22920


FKLI

Market successful defended above 1878 yesterday and closed unchanged. Recovery could be on the card today especially with Ringgit strengthening to 3.20 versus USD. 

Plan A : Attempt buying around 1881-1884
Plan B : Cut below 1878
Plan C : Consider intraday sell if market surge but fails to break above 1892.5
Plan D : Cut above 1895


FCPO

Market recovered steadily after touching an intraday low level of 2385 in the morning session. Intraday short covering pushed the market to a low of 2425 before settling at 2419. Market will have to stand firm above 2407 today in order to have any chance of distancing itself from a bear market.

Plan A : Attempt buying if market holds firm above 2407
Plan B : Cut below 2397
Plan C : Consider selling only if market fails to break above 2447
Plan D : Cut above 2465


*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