S&P500 (873, last week 888 or-1.7% w.o.w )The daily indicators continued to register uptrend although some weaknesses were shown last week. During the week, the index dropped below the 880 support level, ie the 20 day ema. The index needs to work hard to prop up the daily indicators so as to remain bullish. For the weekly readings, the indicators are improving slowly and the MACD is continuing to move upwards but no positive crossover yet. The weekly Parabolic SAR is also not positive yet. The uptrend will be enforced further if the daily/weekly ADX trend and DMIs (+ve and –ve) were to turn bullish too, so far still moving towards it only. Support is around 850 and resistance at 960.
KLSE CI (867, last week 876 or -1.03% w.ow)
The daily indicators improved further during the week despite a w.o.w decline. The index is still above its 20 day ema. The daily indicators of Parabolic SAR, ADX trend and DMI (+ve and –ve) are still positive but the DMI (+ve and –ve) are not strong. As indicated weeks ago, there is a likelihood the index will be under pressure again as evident from the high daily stochastic oscillator. This indicator is still correcting. The volume is also uninspiring. The weekly charts have improved and the MACD and Parabolic SAR are still positive. The uptrend will be enforced further if the weekly ADX trend and DMIs (+ve and –ve) were to turn bullish too, so far still moving towards it only. The index is expected to trade between 835 and 900.
HangSeng (14,184, last week 15,128 or -6.24% w.o.w )
A worrying trend just emerged during the week. The daily MACD and MACD Histogram and Parabolic SAR turned negative on the 24 December. The index which is the leading positive trend setter suddenly turned bearish. This was the due to the index's large drop during last week and its inability to remain above the 15,000 level or the 50 day ema. It is now below the 20 day ema of 14,500. Lets hope this could be a temporary situation as its daily stochastic indicator is poised to move upwards again. The weekly charts is also doing well, especially the MACD which had a positive crossover during the week. The weekly Parabolic SAR is also bullish. Support is seen at 13,300 and resistance at 15,500.
Nikkei 225 (8,740, last week 8,589 or +1.76% w.ow)
The daily indicators continued to improved further during the week. The index seems to be bunching around its 20 day ema of 8,500 level. It would be bullish for the index to see if the daily ADX trend and DMI indicators could show positive uptrend soon. The weekly charts are improving with the MACD crossed over on Friday. The Parabolic SAR has just turned bullish too. The index is expected to trade between 7,500 and 9,500.
* Selamat menyambut Ma'al Hijrah.
* Job losses on the rise...from Kuching to Kedah....from Nikko Electronics to Western Digital...Canon to Sony....expect more social and crime related problems to come...every one, plz stay alert and be very careful where ever you are...safety is our No 1 priority.
* Remisiers turn to part time jobs. Sigh!
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* Violence and unrest greeting the new 2009....Israel/Gaza, Thailand, Sri Lanka, Pakistan, Iraq.....
* Euro currency turning 10 years old come this January 1 2009! It is seen by many analysts as fulfilling promise as a way to lower borrowing costs, ease trade and tourism, boost growth and strengthen the European community.
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* Reuters via TheStar: Countdown to the coming 2009 will need to add an extra 1 second to match Earth's spin. It will be the 24th extra second to be added to the Universal Time since 1972, when the practice began.
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