The summary for the world economy for Monday, 26 April 2010:
• Wall St closed 0.6% higher, led by a surge in commodities, Amex
earnings and drug makers. Greece fiscal concern eased, following a
request of up to USD53bln aid from EU and IMF. A surprise weak
Durable goods order, down 1.3% in March, was mitigated by strong
new home sales in March, up 27% from Feb. Yen gains on flight to
safety, due to sluggish equities. Dollar down. Commodities up.
• Dow of 11,204 is overbought, with strong resistance at the 61.8%
retracement of 11,247, indicating a correction. A dip below 11,000,
will correct to the 10,844 low of 8/4/2010. The next low of
11/3/2010 at 10,507, is about 50% retracement. RSI is at 70.
• Dollar Index is lower at 81.3. Upside is at 83.5.
• Dollar yen is down at 92.8 yen.
• Euro/dollar is higher at 1.339. Support is at 1.315.
• Crude oil is higher at USD85.
• Gold is higher at USD1,153. Pullback support is at 1128.
• Shanghai closed lower at 2983
• Singapore STI closed higher 2982.
• Ringgit is firmer at 3.195. It may retest the high of 3.178.
• S’pore ringgit is steady at 2.33. A small pullback is likely.
• Malaysian market closed unchanged at 1336. While the RSI of 59,
and the Stochastic are recovering, the upside is likely to be capped at
1349. Caution is on a downside breach of the Moving Average of
1336. Today’s range is between 1334 and 1342.
• CPO May futures is higher at RM2558, targeting 2631.
• Trading ideas on :
D&O ( 7204 : 0.84 ) : Double Bottom
DATAPRP ( 8338 : 0.35 ) : Targeting 0.43
-Jupiter
• Wall St closed 0.6% higher, led by a surge in commodities, Amex
earnings and drug makers. Greece fiscal concern eased, following a
request of up to USD53bln aid from EU and IMF. A surprise weak
Durable goods order, down 1.3% in March, was mitigated by strong
new home sales in March, up 27% from Feb. Yen gains on flight to
safety, due to sluggish equities. Dollar down. Commodities up.
• Dow of 11,204 is overbought, with strong resistance at the 61.8%
retracement of 11,247, indicating a correction. A dip below 11,000,
will correct to the 10,844 low of 8/4/2010. The next low of
11/3/2010 at 10,507, is about 50% retracement. RSI is at 70.
• Dollar Index is lower at 81.3. Upside is at 83.5.
• Dollar yen is down at 92.8 yen.
• Euro/dollar is higher at 1.339. Support is at 1.315.
• Crude oil is higher at USD85.
• Gold is higher at USD1,153. Pullback support is at 1128.
• Shanghai closed lower at 2983
• Singapore STI closed higher 2982.
• Ringgit is firmer at 3.195. It may retest the high of 3.178.
• S’pore ringgit is steady at 2.33. A small pullback is likely.
• Malaysian market closed unchanged at 1336. While the RSI of 59,
and the Stochastic are recovering, the upside is likely to be capped at
1349. Caution is on a downside breach of the Moving Average of
1336. Today’s range is between 1334 and 1342.
• CPO May futures is higher at RM2558, targeting 2631.
• Trading ideas on :
D&O ( 7204 : 0.84 ) : Double Bottom
DATAPRP ( 8338 : 0.35 ) : Targeting 0.43
-Jupiter
