U.S. stocks finished up after a choppy trading day as investors held out hope on Tuesday for deal to keep Greece in the euro even as it veered close to a potential debt default. Hong Kong market will be closed today while China will be issuing manufacturing and non-manufacturing PMI data today around 9 am.
Fitch's decision to maintain Malaysia's long term foreign currency issuer default rating at A- and local currency at A was probably the catalyst as for why market surge fiercely yesterday. It will be interesting to see how market absorb this piece of news today after furious surge from yesterday.
Plan A : Attempt selling if market surges but fails to break above 1713
Plan B : Cut above 1719
Plan C : Intraday buying can be considered if market retrace but holds firm above 1692
Plan D : Cut below 1686
FCPO
FCPO gap-down yesterday during opening hour and it stays low 'till closing. Dalian and soybean oil are relatively high today which may trigger a surge in the morning session. Ringgit strengthen today to RM 3.73 against the US Dollar after tipping at RM 3.789 recently. With the wild run from the Dalian market, it could be quite frustrated for the investor.
Plan A : Intraday investor or fresh seller may sell if market could rebound and resist at 2263. Target is 2242, 2218 and 2200.
Plan B : Buyer may stay out and wait for consideration if there is a buy signal later. Support is 2242.
Plan C : Above 2270, do nothing.
Plan D : Below 2240, 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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