US Dow Jones Break 10,000 Points, back to 1 year high because the crash down to 6,500. Due to JPMorgan's Extremely Upbeat quaterly results which was 6 times better than the same quater last year. JPMorgan was still earning 257 Million last year when other Banks will doing massive writedowns and asking for government Bailout or Financial Aids.
Intels Great 3 Billion USD Profit also help pushed the US DJ to a positive +100 start up when the market just opened at 9:30p.m. last night Malaysian times.
Tonight will be the Quaterly result announcement for Goldman Sach and CitiGroup. Hopefully their results will beat expectation and the market will rally again.
US DJ Daily Chart still shows a positive rally, Stokastic shows that its a bit overbought and might have some profit taking before the market rally again tonight :), but on the long run, there is no down trend signal, maybe just a slight profit taking. The Bull must rest for a breathe, before running again.
From the Technical Chart Point of View, CI Futures is on a Strong Uptrend, but might face some profit taking coz its a bit over bought now, but Daily chart is still on a Strong Uptrend.
Immediate Support for KLCI Futures is 1248, Resistance at 1260, however, i believe that it will be broken today.
2nd Resistance is 1270, Support at 1250.
3rd Resistance is 1285, Support at 1270.
That's it for today, if you wish to enter, remember to put your stop loss, if I don't update this blog, meaning that I still think the market is on an uptrend for now.
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