S&P500 (899, last week 1,099 or -18.2% w.o.w )
One of the worst week for the index since 1930s. All the daily indicators are negative. The index is extremely bearish and it may take a while before any positive uptrend can be seen. Any technical rebound may be taken as a sell opportunity. The technical rebound is evident since its large volume especially on Friday, daily RSI is at 12.9% and its daily stochastics is almost at the zero level. The index may find support at 850 and 768(6 year’s low) while resistance is at 960 and 1,000.
KLSE CI (934, last week 1,017 or -8.2% w.ow)
Perhaps the best performer in the world, KLSE CI sustained the onslaught pretty well but I won’t be surprise the technical rebound will be equally slow and small. All daily indicators have turned negative. The weekly charts continued to be weak. I suspect he market will make a technical rebound this week as most of the indicators are at an oversold position. The index is expected to trade between 850 and 1,000.
HangSeng (14,797, last week 17,682 or -16.3% w.o.w )
The daily indicators are all in a negative position. A technical rebound is imminent and is likely to be lead by the US markets. The weekly charts are still in a negative territory. Support is seen at 14,000 and resistances are at 15,500 and 16,500.
Nikkei 225 (8,276, last week 10,938 or –24.3% w.ow)
The index performed worst then its Asian counterparts during last week. All the daily indicators are negative. The index is extremely bearish and it may take a while before any positive uptrend can be seen. Any technical rebound may be taken as a sell opportunity. The technical rebound is evident since its large volume especially on Friday, daily RSI is at 12.9% and its daily stochastics is almost at the 5.9% level. The weekly charts are still weak. Any technical rebound is an opportunity to sell. The support is seen at 7,500(5 year‘s low) and 9,500 and resistance is at 9,500.
One of the worst week for the index since 1930s. All the daily indicators are negative. The index is extremely bearish and it may take a while before any positive uptrend can be seen. Any technical rebound may be taken as a sell opportunity. The technical rebound is evident since its large volume especially on Friday, daily RSI is at 12.9% and its daily stochastics is almost at the zero level. The index may find support at 850 and 768(6 year’s low) while resistance is at 960 and 1,000.
KLSE CI (934, last week 1,017 or -8.2% w.ow)
Perhaps the best performer in the world, KLSE CI sustained the onslaught pretty well but I won’t be surprise the technical rebound will be equally slow and small. All daily indicators have turned negative. The weekly charts continued to be weak. I suspect he market will make a technical rebound this week as most of the indicators are at an oversold position. The index is expected to trade between 850 and 1,000.
HangSeng (14,797, last week 17,682 or -16.3% w.o.w )
The daily indicators are all in a negative position. A technical rebound is imminent and is likely to be lead by the US markets. The weekly charts are still in a negative territory. Support is seen at 14,000 and resistances are at 15,500 and 16,500.
Nikkei 225 (8,276, last week 10,938 or –24.3% w.ow)
The index performed worst then its Asian counterparts during last week. All the daily indicators are negative. The index is extremely bearish and it may take a while before any positive uptrend can be seen. Any technical rebound may be taken as a sell opportunity. The technical rebound is evident since its large volume especially on Friday, daily RSI is at 12.9% and its daily stochastics is almost at the 5.9% level. The weekly charts are still weak. Any technical rebound is an opportunity to sell. The support is seen at 7,500(5 year‘s low) and 9,500 and resistance is at 9,500.
* Bloomberg: RBS, HBOS, Lloyds get USD64b government investment.
* Japan and S.Korea to spearhead Asian nations' USD80b fund to protect its currencies?
* Japan's markets are closed today to celebrate "Health and Sports Day".
* Indonesia finally reopens its market after a 3 days trading halt. The main index dropped 5.7% in the opening minute but managed to crawled back the losses now.
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