The S&P 500 was heading for its biggest one-day tumble since September and shares extended losses through the day after reports of a memo by former FBI chief James Comey suggested that President Donald Trump tried to interfere with a federal investigation, setting off alarm bells on Wall Street.
Hong Kong stocks eased on Wednesday but held near 21-month highs aided by steady flows of money from mainland China, where shares tanked under the weight of tighter regulations.
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Plan A : Above 25350, do nothing
Plan B : Below 25130, do nothing
Plan C : Attempt selling if market stays trading below 25257
Plan D : Cut above 25350
Plan E : Consider buying only if market holds resiliently above 25130 after opening low
Plan F : Cut below 25100
FKLI
FKLI acting rather weak yesterday with market failing to breach above 1774.5 and tumbled below 1769 before settling at 1771. With overnight Dow losing 372-points amid turmoil in U.S. politics, FKLI is expected to open lower today. Failure to climb back up above 1769 would definitely spook late buyers and prompt more selling today.
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Plan A : Remain short as long as market stays trading below 1769
Plan B : Cut above 1772
Plan C : Consider buying only if market test and rebound from 1759.5
Plan D : Cut below 1754
FCPO
FCPO held firm above 2600's and the prices started to take off to a level higher towards the second session. Dalian and soybean oil are negative while Ringgit stays at RM4.32 against the greenback.
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Plan A : Sell if market rebounded and resisted around 2644. Targets are 2625, 2605 and 2580.
Plan B : Buy only if market supported above 2644. Targets are 2653, 2674 and 2709.
Plan C : Above 2653, no fresh position.
Plan D : Below 2625, 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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