Fcpo wrap...sailing towards 2600

Intra-day looks a bit toppish but bargains seen at lower end. Matching SO gains, Fcpo stays range bound at higher end, getting ready for a test at 2600 after MERDEKA break.

Above 2550 is a trading buy market but may find resistance at 2600, the 50% recovery point. With price cluster within SMAs, market is unlikely to make a direction soon, with a lot of push and pull first in a consolidation phase.

Fkli wrap...sailing for 1450...

Another strong run, extending its bull tone on DJ and regional strength, near +2%. Fbm stays above 1420 with strong support at 1420. Discounting its high of 1428 , on PET GAS one off gains, +30%, fbm stuck at 1420-24 range, the same range as Fkli's Sep after clearing 1420 resistance.

Above 1420 is bullish. Immediate support is raised to 1420 and strong support seen at 1410.

Morning start...fkli strong 1414-20 fcpo strong 2450-70

DJ +164, on smaller than expected 2Q GDP revision and Fed strong will to fight deflation in a statement on Fri. Europe +1%.


8.15 : DJ futs +20. Regional strong, 1% to 2%, on NK kead, as BOJ to hold meeting to talk on yen rise. Commodity strong, CO +2%.

fkli : immediate support is likely to raise to 1414-15 and fbm is seen attempting 20s range. fkli coudl retreat if fbm fails to cross above 1420 mark. but a buy mkt if > 1414

fcpo : SO +2% at 1-week as grains recover from early week lows on strong export. fcpo can expect to test it first big hurdle towards 2600 -the 2570 resistance. Above 2540 is a buy mkt with eyes on consolidation tone.

Fcpo wrap...-2 for the week but trading buy on rebound

Fcpo holding above 2500 after a selling from 2750 lvl. It finished the week on rebound mode and looks like a sideways and consolidation band , 2500-2600, next week.

While dwrisk is still greater as fcpo needs to break at least 2570 to reverse its dwtrend mode but not a big concern for bulls if fcpo stays above 2530, its immediate support.

fkli wrap...+24 this week...bull...to be continued...

Fbm.fkli finished on strong note on SIME gains, capping a strong week on good earnings report. DJ weaker tone failed to dampen mkt mood with Europe/regional mostly mixed for the week.

Technically, fbm.fkli brushed off Wed’s –ve signal, on DJ losses amid weak housing data but came back strongly the next day with buying above 1400, driven first by fbm’s strength. Not much of pullack and price remains above short term support line since a run from 1340.

This established 1400 as a support rather than resistance, setting the next course higher. This could translate to 1400-1450 range next week if mkt steady above1400 for start.

Morning start....fkli firm 1404-09 fcpo weak 2520-30

DJ -70 on selling under 10k mark but Europe +1%. It seems the fight is still out there for direction.

8.15 : DJ futs -7. Regional -0.5 to -1 %. Commodity mostly lower but mildly.

fkli : weak external but eyes on fbm feel good factor. Uptrend mkt but intra day sell with tight stop if fbm above 1408. or fkli > 1410. Downside seen limited at 1400+ while upside target 1417-20, cap by weekend profit take sell.

fcpo : SO -0.5%. Fcpo seen starting in intra-day neutral range of 2510-2530. To capitalise Thu's momentum, fcpo must take out 2535's 7SMA resistance. Otherwise, dwtrend remains intact and bears will act if fcpo drifts under 2510.

Fcpo wrap...testing short term resistance...7SMA

Like fkli, fcpo also rebounded sharply in PM, after a steady AM session , encouraged by SO gains for 2 consecutive days and tech buy above 2500. Fcpo crossed above 2500 shortly after PM opening bell. It triggered late buying activities that pushed fcpo to finish at day's high.

Fcpo managed to hold above 2480 lvl today, encouraging short covering activity but market remains dwtrend till it regains 7SMA. Positive if > 2500 as mkt is seen attempting to reverse recent dwtrend to consolidations phase, 2500-2570. New major sell force is only expected if fcpo near 2480-90 range.

Fkli wrap..what a comeback!!...back to 1420 target

Speechless…..massive cut loss buying following a late change of sentiment, with players rushing to catch up with fbm’s tone in the last 30mins of trading, triggering buystops lvl above 1403, despite earlier discount stance.

Fbm top performer among its peers today, with strong earnings taking centre stage. Regional mixed. Europe/DJ futs +ve tone in PM reinforced fbm’s earlier +ve mood and the turnaround occurred in PM with a crossing back above 1400 mark. Fbm stocks up across the board, 22 to 30.

A remarkable comeback after yesterday’s negative performance that put bulls on a defensive, making today’s reversal even sweeter and meaningful. A 1400-1410 range for tomorrow but a run towards 1420 is likely if 1410 resistance broken. Immediate support is raised to 1405.

Morning start....fkli firm 1395-97 fcpo soft 2480-90

DJ +20, barely, small recovery as mkt digested another set of weak housing data.Europe -1%.


8.15 : DJ futs +13. Regional +0.5%. NK leads as yen retreats on fear of BOJ intervention. Commodity still mixed this week, up and dw without a clear direction especially speculative-porne commodity. CO +1.5% GOLD +0.5%

fkli : seen taking the same range 1390-1400 with further dw risk if fbm < 1395. Suspect fbm would try to recover back above 1400. Negative tone if < 1400.

fcpo : SO -0.2% , bearish tone if fcpo opens under 2486, targeting 2440-50. Downtrend will continues but intra-day +ve if above 2490.

Fcpo wrap...bears attacking...reaching for 2400+...

2500 support gave way , reinforcing a move towards the lower red-line before stabilizing. Below 2500 is very bearish.

To reverse this current trend, fcpo needs to regain 7SMA , which is unlikely to achieve for the rest of the mth.

Fkli wrap....the end of recent run...

A poor fbm closing triggers fkli late selling despite manages to recover near 1400 just before 4.50 pm in a mostly –ve tone day that see fkli hitting the low of 1390 in early PM trading. It recovers on Europe signals but selling reemerges after fbm’s 4p dip in preclosing stage.

Europe/Dj futs steady after recent losing streak and occasionally testing +ve territory. Regional mixed but dwward –bias, strange personality this week – some very bad, some very resilient

To renew it recent uptrend, mkts need to take out 1405. but recent internal momentum is seen over and need to start afresh- depends very much on DJ rebound, if any.

Morning start...fkli weak 94-99 fcpo firm 2520-30

DJ -133 after a report showing showing a worse-than-expected plunge in existing home sales reignited fears about an economic slowdown. ..CNN. Europe finished near -2%. Mkt also spooked by strong yen - reverse carry trade ....risk off the book?

8.20 : DJ futs +18. Regional -1% . Commodity mixed, -0.7% to +0.7% day but seems quiet.


fkli : fbm.fkli survived a big test yesterday but a bigger test today. Hard to imagine upside. fkli is likely to trade 91-99 range on expectations that fbm retreat towards 1400. Negative and risk of a 10 to 15 points pullback is on the card if fbm < 1405. Above 1405, is trading buy.

fcpo : SO +0.7%, enough to sustain fcpo above 2500 ? . Yes for a start but unlikely to push fcpo back to "safe" zone , > 2530. However, fresh bearihs tone will come if 2495-2500 support fails to hold, targeting 2440+.

Fcpo wrap...fresh breakdown instead....

Weak commodity mkt except cocoa and coffee maybe. SO and CO slide continues

After a day pause and 2-day of resilient tone, fcpo takes another dive today in an event that could signal a move towards 2400 if 2500 is taken out tomorrow.

Toppish in early trades as SO weakness continues to drag and selling force turns into full force after 2530 support gives way.

Below 2530 is bearish and mkt needs to regain 7SMA resistance to offset today's bearishness. Next breakdown lvl is 2495.

Fkli wrap....overbought but sustain and still tech +ve...

Super Fbm, managing to maintain its winning streak to 8 despite poor external factors in PM. Europe -1% DJ futs -80. GENTING , AXIATA took control in PM. Fkli watching from a distance , taking discount stance and like yesterday mostly in and out 1400 lvl.

Technically, fkli still strong thanks to late buying activities, above 1390 is still a bull mkt.

It seems fbm really eager to pull away from 1400, targeting the 1400-1420 band., as long as fbm survive above 1400.

Morning start...fkli weak 1400+ fcpo weak 2540-50

DJ -30 , as a dismal economic outlook overshadowed earlier optimism fueled by takeover talk....CNN. Europe +ve, near ++0.5%.

8.20 : DJ futs -30. Regional -ve tone. KOS -1% NK -150/-1.5%. Commodity mostly lower. CO -1.5%. Ringgit near 2-year high.

fkli : following weak external, and no surprises from fbm, fkli is seen pulling back towards 1400 first and likely to take on 95-00 range with dwside risk dw to 88 if fbm.fkli trades in -ve territory.

fcpo SO -1% not helping fcpo bulls at all. 2530-2560 is seen as neutral range today but with weaker SO, fcpo will start on defensive side. 2530 is critical support while a breakout above 2560 would reinforce a rebound to 2600.

Fcpo wrap...ready for rebound.. 2570-2600 target

Commodity mostly quiet today but fcpo took equity bullish tone. Sentiment improved after early attempt to break support lvl failed, snapping a 5-day losing streak.

Fcpo resilient at 2530 support, looking for a rebound after last week’s steep losses. SO mostly near flat line, not much encouragement, therefore capping any significant gains that would change the chart bearish outlook, like beyond 2570.

Technically, fcpo regains back above the 30SMA support line but not under bulls grip yet till we see 2600. Long for rebound if above 2530.

Fbm wrap...yet another breakout higher....

A strong DJ futs and regional mixed tone offset DJ Fri losses effect. Fkli continued to strengthen on the back of bullish fbm – CIMB rose on earnings expectations, +3 index point, following MAYBANK feel good factor.

However, fkli was cautious above 1400 today – cut loss buying vs. short term bears selling -before a late push to day's high after fbm 4p jump in preclosng phase.

Expectation of a correction was raised last Thu but yet today’s action actually up the game towards 1400-20. Immediate support is raised to 1400 but above 95, mkt is still bullish, trading buy with tight stop.

Morning srart...fkli firm.. 1390-93 fcpo weak 2530-50

DJ -50, continued to suffer from weaker job data. Europe -1%


8.30 DJ futs +20. Regional softer tone, -0.5%. Commodity flat. Looks like a quiet day.

fkli : seens steady within 93-95 range on expectations that fbm will continue its climb towads 1400. Fbm bullish if >1395. fkli will take premium stance as long as fbm is > 1392-93 range.

fcpo : SO -0.2% lack of +ve signal means fcpo will be pressured by tech -ve. Below 2570 is a sell mkt but could well stuck in a daily neutral band of 2530-70. A breach of 2530 would resume its dwtrend towards 2500.

Fcpo wrap...-RM174...the final short term support

This week...daily % change...fkli +ve everyday, fcpo -ve everyday..

Fcpo failed to capitalize on yesterday’s +ve tone as players watched SO prices slump almost -3% overnight. So, trading sell tone set the pace again and finished low for few buyers ahead of the weekend.

After a 5-day losing streak, wiping out RM174, fcpo now at the last short term support lvl of 30SMA. Further weakness would reverse Jul’s uptrend rally, targeting 2300 as a fresh short term trend.

Fkli wrap...+28 this week...looks exhausted...

Fbm produced another strong day – financials lead again. Strong week, strong closing – 6 day winning streak. Regional mostly weaker tone, within -1%. NK worst on prospect of stronger yen, affecting exporters bottom line. Europe/DJ futs cautious, initially recovery mode from overnight slump but dip back near flat line in late Asian trading hours.

Like yesterday, fkli look “force” at the top end. Players getting cautious as mkt approaches 1400, all the way from 1340. Bullish tone but positive closing. Critical support is raised to 1380s, also the 7SMA.

After 1400, is 1440-50 band but do not foresee this happening till a pullback. More like second round run-up. We are still in the first round.