S&P500 (896, last week 800 or +12% w.o.w )
Last week saw a major reversal for the index. It did a drastic U-turn with a weekly gain of 12%. As a result, the MACD cuts up again with a positive crossover 3 sessions ago. The Parabolic SAR has just turned positive 1 session ago. A word of cautious though, the Stochastic Oscillators are at its recent high and some profit may be taking place this week. The ability of the index to stay positive will help the daily indicators turning more bullish and give a more concrete direction for the index. For the weekly readings, the indicators are still showing weaknesses. Support is around 850 and resistance at 940.
KLSE CI (866, last week 867 or -0.00% w.ow)
The daily MACD remains in the positive and managed to gain a little strength with a dismal performance last week. However, the Parabolic SAR continues to issue a negative signal. The weekly charts are still in a negative territory. The index is expected to trade between 830 and 950.
HangSeng (13,888, last week 12,659 or +9.7% w.o.w )
Looks like the daily indicators eg MACD and MACD Histogram have decided to go up instead down when they touches the decisive and crucial level last week. However, the Parabolic SAR continues to issue a negative signal. The weekly charts are still in a negative territory. Support is seen at 12,200 and resistance at 15,000.
Nikkei 225 (8,512, last week 7,911 or +7.6% w.ow)
Similar to the HangSeng index, the daily indicators eg MACD and MACD Histogram have decided to go up instead down when they touches the decisive and crucial level last week. However, the Parabolic SAR continues to issue a negative signal. A word of cautious though, the Stochastic Oscillators are at its recent high and some profit taking be taking place this week. The weekly charts are still in a negative territory. The index is expected to trade between 8,000 and 9,300.
Last week saw a major reversal for the index. It did a drastic U-turn with a weekly gain of 12%. As a result, the MACD cuts up again with a positive crossover 3 sessions ago. The Parabolic SAR has just turned positive 1 session ago. A word of cautious though, the Stochastic Oscillators are at its recent high and some profit may be taking place this week. The ability of the index to stay positive will help the daily indicators turning more bullish and give a more concrete direction for the index. For the weekly readings, the indicators are still showing weaknesses. Support is around 850 and resistance at 940.
KLSE CI (866, last week 867 or -0.00% w.ow)
The daily MACD remains in the positive and managed to gain a little strength with a dismal performance last week. However, the Parabolic SAR continues to issue a negative signal. The weekly charts are still in a negative territory. The index is expected to trade between 830 and 950.
HangSeng (13,888, last week 12,659 or +9.7% w.o.w )
Looks like the daily indicators eg MACD and MACD Histogram have decided to go up instead down when they touches the decisive and crucial level last week. However, the Parabolic SAR continues to issue a negative signal. The weekly charts are still in a negative territory. Support is seen at 12,200 and resistance at 15,000.
Nikkei 225 (8,512, last week 7,911 or +7.6% w.ow)
Similar to the HangSeng index, the daily indicators eg MACD and MACD Histogram have decided to go up instead down when they touches the decisive and crucial level last week. However, the Parabolic SAR continues to issue a negative signal. A word of cautious though, the Stochastic Oscillators are at its recent high and some profit taking be taking place this week. The weekly charts are still in a negative territory. The index is expected to trade between 8,000 and 9,300.
* XFN: China is not facing major bubbles, adjustments "benign"-Central Bank adviser Fan Gang.
* XFN: 2009 growth seen at 10% and CPI at 3%-State Councils Development Research Centre researcher Zhang Ligun.
* Sounds familiar? The Standard: Canada's opposition parties have agreed in principals of a deal to topple the newly elected government arguing the government lead by PM Stephen Harper has no solid plan to deal with the current global economic crisis.
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