S&P 500 fell through its 200-day moving average!

2010-06-23

S&P 500 fell through its 200-day moving average!

Yesterday S&P 500 fell through its 200-day moving average! Since the big drop at mid of May 2010 this is 2nd time S&P 500 drop below MA200. However the vol is not too high so for S&P 500 index to bound up still have hope.

Back to FBM KLCI today may facing some dip likely, how far we dip will be a sign of revisit below 1,300 level. Due to the rebound vol is not high so the support in this level may not strong.

2 comments:

Ivan June 23, 2010 at 11:51 AM: bro .. personally i think CI quite OK at 1300 . .as gov will try not let it afll below tis lvl for the moment. . unless. . .djia drop another 200 pts tonight
East Point Trading June 23, 2010 at 2:54 PM: Hi Ivan

I think the CI now supported is because fund manager just mark up the share from May panic selling and they still holding up much of the share so CI need to move sideways for then to distributed they share before any big dip.

Today Asia market dip red and KLCI did not hits hard compare most of Asia market.

Stock Quote

KLCI Live Quotes Lookup Stock Code/Name Enter Stock Code/Name

Investment Idea

My investment with RM5,000 initial capital have been growing since 2005.I found the stock market appears confusing and complicated, but it is most definitely based on logic "supply and demand". However, the laws of supply and demand as observed in the markets do not behave as one would expect. To be an effective trader, there is a great need to understand how supply and demand can be interpreted under different market conditions and how to take advantage of this Off Market Transactions in KLSE.

Footer

Weblog Disclaimer: The information contained herein was obtained from sources believed to be reliable. However, we do not guarantee the accuracy and completeness of the report. Opinions expressed herein are subject to change without notice. This report is for information purposes only and should not be construed as an invitation, offer or solicitation to purchase or sell any futures product referred to herein. The Author may from time to time has an interest or position in the futures products or stocks mentioned. There is a risk of loss in trading stocks,futures & derivatives like products.

Bursa Malaysia (KLSE) Daily Info Edge Zone