Yesterday, the cash retreated almost 10 points from its day high, closed at the day low and just closed within the band that we are looking at thus far. Like what we mentioned yesterday, the chances for the cash to break through the tough band is high but not necessary. The inability to sustain above the band that we are looking at, indicating the uptrend building is not confirmed.
For today, since overnight DJIA unchanged, we are expecting our FKLI market will be havoring within a very tight trading band with slight downside bias. For today, the support is seen at 1305 – 1300 levels and the resistance is seen at 1312 – 1315 levels.
US MARKET
Overnight US market closed marginally higher of 4 points as greenback strengthen against the euro and the housing starts data showed declined result. The DJIA currently is only marginally above the important support level of MA 200 – 10325. The DJIA will need to hold on to this support level to allow the index to resume its uptrend. Failure for the DJIA to hold above this level will send the US market to resume its downside trading.
[Reminder: US will release its CPI (Survey –0.2% Vs Prior -0.1%), Initial Jobless Claim (Survey 450K Vs Prior 456K) and Leading Indicator (Survey 0.4% Vs Prior 0.1%) later tonight.]
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The information herein was obtained or derived from the source that we believed are reliable.No liability can be accepted for any loss that may arise from the use of this report.All opinions and estimates included in this report constitutes our judgement as of this date and are subject to change without notice.
US MARKET
Overnight US market closed marginally higher of 4 points as greenback strengthen against the euro and the housing starts data showed declined result. The DJIA currently is only marginally above the important support level of MA 200 – 10325. The DJIA will need to hold on to this support level to allow the index to resume its uptrend. Failure for the DJIA to hold above this level will send the US market to resume its downside trading.
[Reminder: US will release its CPI (Survey –0.2% Vs Prior -0.1%), Initial Jobless Claim (Survey 450K Vs Prior 456K) and Leading Indicator (Survey 0.4% Vs Prior 0.1%) later tonight.]
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The information herein was obtained or derived from the source that we believed are reliable.No liability can be accepted for any loss that may arise from the use of this report.All opinions and estimates included in this report constitutes our judgement as of this date and are subject to change without notice.
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