Dow closed drastically lower by 2% slump while S&P 500 and NASDAQ ended 1% lower in comparison with the previous day.
China economic slowdown dragged down the global economics of other countries as China is acting as the powerhouse for regional markets of their commodities and other imports.
Plan A : Sell if market rebounded and resisted at 20174. Targets are 19778 and 19586.
Plan B : Buy if market consolidated and supported above 19778. Targets are 20120 and 20174.
Plan D : Above 20174, no fresh position.
Plan E : Below 19778, no fresh position.
FKLI
Market had choppy ride over the past one week as regional markets traded unstable. FKLI continue to hover at sell signal after failing to surpass 1673.5 on Tuesday.
Plan A : Sell if market resisted at 1648. Place a stop. Targets are 1637.5 and 1628.
Plan B : Buyer stay out if 1635 is broken. Buy only if market could support above 1635. Targets are 1645, 1648 and 1654.
Plan C : Above 1648, no fresh position.
Plan D : Below 1635, no fresh position.
FCPO
FCPO pulled a handbrake on the downside last Friday, supporting above 2409 and it slowly crawled its way up then ended high at close. Dalian and soybean oil are rather weak today while Ringgit hold above RM 4.40 against the greenback.
Plan A : Overnight seller hold on to position. Resistance is looking at 2436. Targets are 2419, 2379 and 2337.
Plan B : Sell if market could rebound and resist at 2425 or 2436. Targets are 2405, 2390 and 2379.
Plan C : Buy if market consolidated and slowly supported above 2419 or 2409. Targets are 2436, 2445 and 2456.
Plan D : Above 2436, no fresh position.
Plan E : Below 2419, no fresh position.
*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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