Sunrise~

After all, it’s Sunrise again! On the back of improving economic data from China, US and Europe, the global panic on Ireland’s issue eases, which also improves the market sentiment and the risk appetite of investors. Thus, local bourse touched 1,500 level again today.

SNAPSHOT
Let’s us take a brief look on the regional indices.

To cut off all the noises, I’m using only the weekly charts.

DJIA – Back above 11,200 level. 2-week MA remains tight above 7-week MA. Despite lower volume for the past two weeks, its MACD, DMI and RSI remain healthy.

HSI – Still testing the 23,000 support. It may enter consolidation phase. Further confirmation is needed to show the potential upside of the index. Once the support has set, it may propel higher, providing market sentiment remains upbeat.

Neighbor STI – Pullback from the peak. Hopefully, it could land above 3000 level.

SHANGHAI – Making lower highs. Support is at 2500 level. A drop below support may indicate further bearish momentum. Otherwise, market should be trading at consolidation phase. Among regional markets, SHANGHAI is lagging behind.

FBM KLCI – Edging towards 1500 level. 2-week MA is in the midst of rebounding off 7-week MA. In short-term, I think the index should be able to maintain the upward trendline.

ALARM:
will be updated soon.