Back at work!

Wow... it has been quite a break.. anyway, back to the markets...

The US markets.. hmm.. it fell into place just like what I mentioned back in Nov... It reached the 13,600-13,750 levels before easing. It could now continue to ease to 12,800-12,900, which is the good support for the BULLS. There are 2 scenarios for the Dow and S&P. It seems to be forming a triangle now but a sideways rectangular pattern could also take place. Both are continuation patterns. Hence, the BULL is still intact as long as the Dow stays above the August and Nov lows i.e. 12,500-12,600. Keep a sharp eye on those levels. Last night, the US markets rebounded slightly. Continue to expect a little more downside from here...

STI... is finding some support around current levels, the Nov lows. Indicators still point to lower levels from here.. probably finding its footing around the 3,200 support.. similarly, as long as the index stays above that level, the BULL is still very much alive..

KLCI... 1,380 is the current support level.. should hold here for a couple of days... then it all depends on external factors.. technically, it has yet to see a turnaround sign... so, expect selling pressure to persist for now... however, there are some pretty good looking stocks on the charts... Silver (7136) could run soon.. however, keep a stop at RM0.90 or slightly below.. another stock is MPHB.. stop should be at RM1.95.. Both have more than decent chance of rising in the coming months despite the gloomy immediate outlook for the index.. trade cautiously is still the main idea here...