KLCI should continue to climb higher today on the back of a rebound in the US last night. After yesterday's minor pullback, I expect KLCI to reach 1,544 this week. Yesterday's stock picks still holds - could start to run today. Keep an eye on all.
STI - fell below support. Do not look good in the near term. Should be able to find support around 2,970-3,180. Capitaland and Wing Tai have broken below their support, suggesting more downside from here. However, Banyan Tree is still ok. So, only SingTel is looking bullish right now. Not much punting stocks to look at currently. Better stay away.
Dow could see lower after this current rebound. If the Head & Shoulder is correct, then Dow could be heading towards 11,500-11,650. At 12,100, there is a long term trend line support. Either way, the strong support is a quite a long way down. Expect more weakness in the coming days. The outlook could improve towards the end of the month.
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