U.S. stocks dropped on Tuesday, giving the S&P 500 its biggest decline in two months, on increasing views the Federal Reserve may raise rates as soon as June.
Hong Kong shares followed mainland stocks lower on Tuesday to end at their lowest in nearly two months, led by banks on worries over China's slowing economy.
Plan A : Above 24073, do nothing
Plan B : Below 23747, do nothing
Plan C : Attempt selling if market rebounds but fails to break above 23970
Plan D : Cut above 24073
Plan E : Consider buying if market holds firm above 23747 and triggers a buy
Plan F : Cut below 23747
FKLI
Market is expected to open gap down today after 332-points drop in overnight Dow. Support however, can be seen at 1756.
Holding short
Plan A : 1763.5-1787.5, do nothing
Plan B : Consider take profits if market rebounds strongly from 1756
Plan C : Intraday buy can be considered if market holds firm above 1763.5
Plan D : Cut below 1756
FCPO
FCPO had minimal rebound to 2276 and it eventually pulled down to 2221 during the second session. Dalian and soybean oil are slightly down while Ringgit has gone weaker day by day lately with RM 3.71 against the greenback.
Plan A : Overnight seller hold on to position. Resistance is 2268. Target is 2208 and 2189.
Plan B : Buyer stay out.
Plan C : Fresh seller or intraday investor wait for rebound and sell if resisted at 2248. Target is 2208.
Plan D : Above 2250, do nothing.
Plan E : Below 2200, 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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