Trading Tips for the Day - 10 August 2015

FKLI will likely open lower today, for the first trade,one can attempt to Short 1-3 points above the opening price.  Try get 5-7 points profit and put a stop 5 points away from your entry point.  Close your position by the end of the day.

Trading Tips for the Day - 5 August 2015

FKLI opened at the same price as yesterday's closing.  For the first trade, one can attempt to Long at 1710.  Try get 5-7 points profit and put a stop at 5 points.  Close your position by the end of the day.

As for FCPO, market closed slightly higher yesterday after eroding to fresh new lows since 11 September 2014. Trading was rather erratic with prices doing nearly a full circle. Ideas that market was due for a rebound after sharp losses the previous day opened market higher. But weakness in CBT soyoil and China Dalian olein futures continued to pressure sentiment. The technically oversold situation brought choppy trading in the afternoon. Prices were 19 higher to 28 lower in the morning and 26 lower to 18 higher in the afternoon.

Positive factors are lacking at present. Production is expected to be higher in August - October. US is forecasting favourable weather for the current soyabean crop. India is reporting good monsoon. China is showing slower economic growth. Crude mineral oil is expected to continue weak. However, the discount of palm oil to soyoil and other vegetable oils is relatively big. This will encourage bottom picking and together with the prospect of El Nino weather in the coming months, they may limit the downside.

Technical view - no change in the down trend and negative indicators. The oversold situation in the RSI may bring some upward correction.  Trend down ; RSI 28.51 ( oversold ) ; support 2025 / 2000 / 1950 / 1915 ; resistance 2070 / 2100 / 2150 / 2175. 

In other news

 U.S. stock indexes slipped after Federal Reserve Bank of Atlanta President Dennis Lockhart said the economy is ripe for a rise in short-term interest rates. The energy sector gave up early gains to close half a percent lower as oil attempted to recover recent losses, while Apple closed down 3.2% as the greatest blue chip decliner.

🇺🇸 U.S. government bonds suffered the biggest one-day selloff in nearly a month, nearly sending the yield on the two-year note to its highest of the year, after comments from a top Fed official raised anxiety over an interest-rate increase next month.

€ European stocks were down as a slide in bank stocks led the overall market lower after Credit Agricole SA tumbled 10% when it failed to win approval from regulators for a reorganization that may free up capital to repay investors.

€ Eurozone Jun PPI unexpectedly fell for the first time in five months as it slid -0.1% m/m, weaker than expectations of lunch m/m. On an annual basis, Jun PPI fell -2.2% y/y, right on expectations.

🇨🇳 China shares ended +3.69% higher after officials announced fresh steps to rein in short selling.

🇨🇳 China took another step to curb volatility in its stock markets, moving to clamp down on short selling in the country. Under new rules, short sellers must wait at least one day to cover their positions and pay back loans used to buy shares.

⛽ Oil prices rose on expectations that inventory data due Wednesday would show U.S. crude-oil supplies fell last week.
* Crude oil $45.74 (+0.57)
* Brent crude $50.18 (+0.66)

👑 Gold retreated from intraday highs as the dollar moved higher and a voting member of the U.S. Federal Reserve said he is ready to support an interest rate increase in September. Now, $1,085.90 (-4.8)

🌴 FCPO (RM2062) closed slightly higher after price dropped sharply to low of 2026. Trading was rather erratic with prices doing nearly a full circle. Positive factors are lacking at present. Production expecting higher, U.S. Is forecasting favorable weather for the current soybean crop, India is reporting good monsoon, China is showing slow economic growth and crude mineral oil is expected to continue weak.

🌺 Malaysia’s ringgit fell for a fourth day as Brent crude dropped below US$50 (RM193.30) a barrel for the first time since January, weighing on the net oil exporter’s revenue. 
RAM Rating Services Bhd (RAM Ratings)said the ringgit will be trading between RM3.80 and RM3.90 against the US dollar, up until the end of 2015.

Trading Tips for the Day - 31 July 2015

FKLI will likely open higher for today, for the first trade, one can attempt to Long 1-3 points below the opening price.  Try get 5-7 points profit and put a stop 5 points away from your entry point.  Close your position by the end of the day.

Trading Tips for the Day - 28 July 2015

FKLI will open lower today, for the first trade, one can attempt to Short 1-3 points above the opening price.  Try get 5-7 points profit and put a stop 5 points away from your entry point.  Close your position by the end of the day.

Trading Tips for the Day - 27 July 2015

FKLI will likely open lower for today, for the first trade, one can attempt to Short 1-3 points above the opening price.  Try get 5-7 points profit and put a stop 5 points away from your entry point.  Close your position by the end of the day.

Trading Tips for the Day - 24 July 2015

FKLI will open lower for today.  For the first trade, one can attempt to Short 1-3 points above the opening price.  Try get 5-7 points profit and put a stop 5 points away from your entry point.  Close your position by the end of the day.

As for FCPO, market extended losses to a second day following weakness in related outside markets. CBT soyoil, China Dalian futures and crude mineral oil were all lower. Losses were however, held by the lower 1-20 July production reported by MPOA and weaker ringgit which lost about 0.4 pct vs SD. Prices were 19 to 5 lower in the morning and remained easier throughout the afternoon.

The lack of fresh factors kept market sideways in narrow range trading yesterday. The approaching peak production months in August - October usually results in lower markets, especially with tocks now above 2 million tonnes. Improved weather for the US soyabean crop is also negative. However, concerns over the forecast of El Nino weather and the existing big discount to soyoil may limit the downside. Smaller global rapeseed and canola supplies are also supportive.

Technical view - prices continued to trend sideways, keeping indicators unchanged.  Trend down ; RSI 43.50 ; support 2165 / 2130 / 2070 / 2000 ; resistance 2230 / 2285 / 2330.

In other news...

U.S. oil prices sank into a bear market as a global glut of crude shows little sign of abating. An unexpected increase in U.S. crude inventories, combined with high production already coming from the OPEC, is raising concerns that the market is settling into a long period of oversupply.
* Crude oil $48.45 (-0.74)
* Brent crude $55.27 (-0.86)

🇯🇵 Gold prices carved out a slight gain, interrupting 10 consecutive days of declines, as a weaker dollar and lower prices lured buyers back into the market. Now, $1089.65.

🇺🇸 The Dow industrials slumped Thursday following disappointing earnings reports from a handful of big U.S. companies. Weak results from heavy-equipment manufacturer and economic bellwether Caterpillar (-3.6%) weighed down the blue-chip index. Downbeat reports from American Express (-2.5%) and manufacturer 3M (-3.8%) also dented the benchmark.

€ European stocks closed mixed. Technology stocks gained in pre-market trading, led by a 13% surge in SanDisk after it reported Q2 profit that was nearly double consensus. Also, an increase in M&A activity is giving the market a lift with Cigna up 7% in pre-market trading after people familiar with the matter said Anthem is nearing a deal to buy Cigna for $48 billion.

€ European bank stocks rose, led by a 6% jump in Credit Suisse Group AG, after it reported better-than-expected earnings results.

📝 Representatives of Greece's creditor institutions will meet in Athens on Friday to hold formal negotiations on a new bailout after the Greek parliament passed a second round of reforms needed for a bailout. A Greek government official said decisions about reopening the Athens Stock Exchange and Greek financial markets will be deferred to next week.

🇯🇵 The Japan Jun trade balance narrowed to a -69.0 billion yen deficit from a downward revised -217.2 billion yen deficit in May, weaker than expectations of a +45.8 billion yen surplus.

🇨🇳 Chinese shares notched their sixth straight session of gains Thursday as Beijing-backed funds and buying by large shareholders appeared to support the market’s rebound, according to analysts.

🇨🇳 The IMF said it wants more financial-system overhauls from China as Beijing pushes for the IMF to label the yuan a reserve currency.

🌴 FCPO (RM2,189) extended losses to close lower following weakness in related outside markets. CBT Soyoil, China Dalian futures and crude mineral oil were all lower. The lack of fresh factors kept market sideways in narrow range trading.

Trading Tips for the Day - 21 July 2015

FKLI will likely open at very near to yesterday's closing price.  For the first trade today, one can attempt to Long 1-3 points below the opening price.  Try get 5-7 points profit and put a stop 5 points away from your entry point.  Close your position by the end of the trading day.

Trading Tips for the Day - 20 July 2015

FKLI will likely open lower today, for the first trade, one can attempt to Short 1-3 points above the opening price.  Try get 5-7 points profit and put a stop 5 points away from your entry point.  Close your position by the end of the day.

As for FCPO, market closed slightly lower Friday in a half day trading session. Selling followed sharp drop in CBT soyoil and lower China Dalian futures. Weak crude mineral oil also undermined sentiment. Losses were however held by some covering for the weekend Hari Raya holidays. Prices eroded to 23 lower early but recovered to 3 higher before closing lower.

It was mostly position squaring due to the holidays through the weekend. There are no fresh fundamentals. The Indonesian export levy and improved export pace for 1-15 July are supportive. Increasing production, better weather in the US for the soyabean crop, and weakness in crude mineral oil are negative.

Technical view - prices continue to hold the sideway trading range of 2150 - 2250.  Trend down ; RSI 42.77 ; support 2130 / 2070 / 2000 ; resistance 2250 / 2285 / 2300.

Trading Tips for the Day - 15 July 2015

FKLI will likely open higher today, for the first trade, one can attempt to Long 1-3 points below the opening price. Try get 5-7 points profit and put a stop 5 points away from your entry point.  Close your position by the end of the day.

In other news...

Under the terms of the deal, the U.S., European Union and United Nations will lift economic sanctions against Iran’s energy and financial sectors imposed since 2012 in exchange for the country’s acceptance of limits on its nuclear activities for 10 years intended to keep it at least 12 months way from developing a nuclear bomb.

⛽ U.S. and global oil benchmarks ended higher after a topsy-turvy session in the wake of overnight news that Iran reached a nuclear agreement with world powers that could usher its ultimate return to international crude markets.

🇺🇸 U.S. stocks rose, pushing the Dow industrials index back above 18,000 for the first time in three weeks as corporate earnings started to play a slightly bigger role .
* J.P. Morgan Chase said its second-quarter profit rose 5.2% as earnings and revenue beat expectations.

🇺🇸 The White House said it sees U.S. economic growth rising by just 2% this year before rebounding to 2.9% in 2016—down from its earlier forecast of 3% growth for both 2015 and 2016 released in February—after the economy stalled during the first quarter.

€ European equities finished higher on hopes that the Greek parliament will be able to pass the legislation needed to get a third bailout. Also, another positive news on the German Jul ZEW survey of investor confidence fell less than expected.

🇯🇵 Japan's Nikkei Stock Index up +1.47% at a 1-week high as extra fillip from a weaker currency as the yenweakened to 123.72 per dollar, a twelve-day low.

🇨🇳 Shanghai Composite down -1.16% after tumbling as much as 3% in the afternoon. Mainland equities swung between gains and losses throughout the session as investors adopt a 'wait-and-see' approach to judge whether sentiment has stabilized following weeks of panic selling.

🇨🇳 China scrapped the quotas that limited investments from foreign central banks, sovereign-wealth funds and other big financial institutions in the country’s $6.

⛽China is set to release its second-quarter GDP figures today. There are some signs that the economy has started to stabilize.

👑 Gold reversed gains as the U.S. dollar came off its lows and the market awaited Federal Reserve Chair Janet Yellen's semi-annual testimony to Congress on Wednesday and Thursday, which may provide more signals about a looming rate rise.

🌴 FCPO (RM2,201) extended gains to a 1-week high. Buying was encouraged by higher CBT Soyoil and China Dalian futures. Gains were checked by sharp fall in crude mineral oil and rumours of lower 1-15 July exports. The pull back from low may keep prices in a 2150 to 2250 range.

Trading Tips for the Day - 10 July 2015

FKLI will likely open higher today, for the first trade, one can attempt to Long 1-3 points below the opening price.  Try get 5-7 points profit and put a stop 5 points away from your entry point.  Close your position by the end of the day.

As for FCPO,  market rebounded from big losses yesterday to close sharply higher today. Buying was led by technical correction from the oversold situation indicated in the stochastic and ideas that erosion yesterday was overdone. Steadier CBT soyoil and China Dalian futures also underpinned sentiment. Late rumours of good 1-10 July exports were also supportive. Prices were 7 to 18 higher in the morning and rose to 42 higher in the afternoon.

Rumours of 1-10 July exports to be reported by cargo surveyors tomorrow varied substantially. However, the numbers may not have much impact since market eroded sharply the past few days on outside factors, ie. plunging China stock market, Greece financial crisis, weak crude mineral oil, etc. Some support is likely ahead of the MPOB June data which is expected to report lower stocks and production.

Technical view - prices pulled back from the oversold stochastic to partially fill the big gap left on Wednesday. Trend remains negative.  Trend down ; RSI 41.79 ; stochastic oversold ; support 2130 / 2070 / 2000 ; resistance 2205 / 2250 / 2285 / 2300. 

In other news..

The IMF cut its global 2015 GDP forecast to 3.3% from a 3.5% estimate in Apr and also lowered its U.S. 2015 GDP estimate to 2.5% from a 3.1% estimate in Apr. The IMF said that risks to the world recovery remain “tilted to the downside” due to financial-market turbulence from China and Greece.

🇺🇸 U.S. Stocks followed global markets sharply higher in early trading, with the Dow industrials rising as much as 249 points, or 1.4%. But shares pared their gains to end modestly higher as the unexpected +15,000 increase in U.S. weekly jobless claims ( expectation -6,000) and the IMF's cut in its global 2015 forecast. 
* Dow +33
* S&P +4
* Nasdaq +12

€ European equities moved sharply higher on the hope that Greece will submit concrete proposals to creditors later Thursday. As expected, the BOE at the conclusion of today's policy meeting kept its benchmark interest rate at 0.50% and maintained its asset purchase target at 375 billion pounds.

📝 A top Puerto Rico finance official is set to meet on July 13 with bondholders as the commonwealth pushes to restructure its $72 billion of debt.

🇨🇳 China's Shanghai Composite rebounded from a 3-3/4month low and closed up +5.76% after regulators late Wednesday banned major stockholders from selling their shares for at least 6 months. China has unveiled measures almost every day over the past week to shore up the stock market. Deleveraging of margin buying continues as traders unloaded a record 112 billion yuan ($18 billion) of shares bought with borrowed money on the Shanghai exchange Wednesday, the 13th straight day of declines.

🇨🇳 China Jun CPI rose +1.4% y/y, more than expectations of +1.3% y/y. Jun PPI fell -4.8% y/y, weaker than expectations of -4.6% y/y and matched Feb’s 5-1/2 year low.

⛽ U.S. oil prices climbed, snapping a five-session losing streak, as expectations of higher Iranian crude-oil exports receded.

⛽ Nuclear talks between Iran and six world powers are appear likely to drag on past Thursday’s midnight deadline. If a deal isn’t complete by Friday morning, Congress will get an extra month to review the deal.

👑 Gold pared gains after climbing from the prior session's four-month low as a recovery in Chinese shares cooled fears of a wider rout in the major bullion consumer while strength in the U.S. dollar kept a lid on gains. Now, &1,160.50 (+0.95)

🌴 FCPO (RM2,187) rebounded from big losses on Wednesday to close higher. Buying was led by technical correction from oversold situation indicated in the stochastic. Late rumour of good 1-10 July exports were also supportive. Also, some support is likely ahead of the MPOB June data which is expected to report lower stocks and production.

🌺 Ringgit closed higher against the U.S. Dollar as Bank Negara Malaysia intervened to prop up the local unit, dealers said.

Ringgit ~ 3.7960 / 3.7980 vs USD

Trading Tips for the Day - 9 July 2015

FKLI will open lower today, for the first trade, one can attempt to Short 1-3 points above the opening price.  Try get 5-7 points profit and put a stop 5 points away from your entry point.  Close your position by the end of the day.

As for FCPO, market continued to erode sharply, dipping to its lowest level since 22 May. Selling followed sharply lower CBT soyoil and China Dalian futures. Long liquidation and technical weakness added weight. Quiet cash market and ideas of slow demand also undermined sentiment. Prices gapped 54 to 74 lower in the morning and remained soft in the afternoon.

Outside factors dampened sentiment today. Continuous plunge in China stock market inspite of the government introducing supporting measures and the Greece financial crisis raised concerns over the global economic outlook, prompting a broad sell down in the equities and commodities markets. Higher production in the coming months and absence of adverse weather are likely to keep the trend negative in the coming months.

Technical view - the very sharp fall may see some rebound with the stochastic indicating oversold. Any pull back will be a sell opportunity.  -Trend down ; RSI 34.53 ; stochastic oversold ; support 2120 / 2070 / 2000 ; resistance 2205 / 2250 / 2285 / 2300.

Ringgit ~ 3.8040 / 3.8060 vs USD

Trading Tips for the Day - 8 July 2015

FKLI will open lower today, for the first trade, one can attempt to Short 1-3 points above the opening price.  Try get 5-7 points profit and put a stop 5 points away from your entry point.  Close your position by the end of the day.

As for FCPO, market eroded further to new lows since 29 May. Selling was tied to bearish sentiment towards the seasonally weak period of high production months in August - October. Lower CBT soyoil and China Dalian futures together with weakness in crude mineral oil undermined sentiment. There was also no reports of serious adverse weather. Technical selling as prices broke below 2220 magnified losses. Bloomberg's poll on June data was discounted as within expectations. Prices were 12 higher to 7 lower in the morning and eroded to 30 lower in the afternoon.

In the absence of bullish factors, seasonal weakness is likely to dominate. Inspite of forecast for El Nino weather and reports of dryness in some countries, there is no impact on palm oil production yet. Meanwhile, weather is reportedly improving for the US soyabean crop which is negative. However, the short term fundamentals are supportive with lower stocks and the prospect of lower July production due to the coming Hari Raya holidays.

Technical view - the break below 2220 turned indicators negative. Prices may drop to 2130.  Trend down ; RSI 42.50 ; 5-day MA has diverged downwards from the 20-day MA ; support 2150 / 2120 / 2080 ; resistance 2250 / 2285 / 2300.

In other news...

 U.S. crude closed down slightly as investors fled to safe havens on worries about a near-bankrupt Greece and China's stock market losses and as technical selling threatened to push oil into a bear market. Iran's determination to seal a nuclear deal with global powers to bring more of its crude to an oversupplied market and the restart of a key oil terminal in Libya also weighed on oil prices.
* Crude oil $52.33 (-0.20)
* Brent Crude $57.00 (+0.43)

👑 Gold fell to a near four-month low on Tuesday as the dollar climbed ahead of an emergency euro zone summit on Greece with the country's banks rapidly running out of cash. Now, $1,156 (+1.0)

🇺🇸 U.S. stocks overcame sharp intraday losses to end higher, after a rout in commodities abated and as eurozone leaders considered proposals to offer Greece emergency financing. 
* Dow from -218 to closed +93
* S&P from -24 to closed +12
* Nasdaq from -89 to closed +5

💵 US dollar rose to five-week high against other currencies as concerns over the debt crisis in Greece and tumbling equities in China. U.S. Dollar against a basket of 16 currencies, gained 0.4% to 87.61.

📝 Greek Prime Minister Tsipras is heading to Brussels in a last-ditch attempt to secure a bailout as Eurozone leaders meet to discuss the Greece crisis. On Monday, the ECB rejected a Bank of Greece request to raise the Emergency Liquidity Assistance (ELA) ceiling for Greek lenders by 3 billion euros and raised the discount applied to Greek government debt pledged as collateral against ELA to 45%. People familiar with the matter said the ECB sees Greece's financial system surviving without an injection of extra liquidity at least until after today's summit of Eurozone leaders.

€ European markets turned sharply lower on Tuesday on concerns that Greece's negotiations with its creditors will drag on without a viable debt plan.

🇨🇳 China's Shanghai Composite fell -1.29% to a 3-1/2 month low as deleveraging of stocks bought on margin has fueled a sell-off in Chinese stocks for four of the past five sessions. Investors concern on the government’s seeming inability to halt the relentless slide in domestic share prices.

🌴 FCPO (RM2,209) eroded to new low since 29 May. Selling was tied to seasonal peak production. Moreover, lower China Dalian, Soyoil and crude mineral oil added selling pressure. Bloomberg's poll data on June was discounted as within expectation. Technical selling as price broken below 2,220.

🌺 The ringgit hovered near its lowest level since September 1998 against the greenback amid graft allegations surrounding the country's Prime Minister Najib Razak. Now, RM3.8150

Trading Tips for the Day - 7 July 2015

FKLI will likely open lower today, for the first trade, one can attempt to Short 1-3 points above the opening price.  Try get 5-7 points profit and put a stop 5 points away from your entry point.  Close your position by the end of the day.

In other news...

Crude Oil prices tumbled the most in 3 months, with U.S. Crude falling nearly 8% after Greece rejected debt bailout terms and China rolled out emergency measures to support its stock markets. Adding to the pressure on oil markets, Iran and global powers were trying to meet a July 7 deadline on a nuclear deal, which could add more oil to oversupplied markets if sanctions on Iran are eased. 
* Crude oil $52.53 (-4.4)
* Brent crude $56.50 (-3.8)

🇺🇸 U.S. stocks fell, weighed down by a tumble in oil prices as well as Greek voters’ rejection of creditors’ conditions for further financial aid. Energy companies were the worst performing group in the S&P 500, falling 1.3%, as the price of oil fell to a nearly three-month low.

€ European stocks were down at a 4-3/4 month low after Greek voters’ rejection of austerity measures in Sunday's referendum increases the chances that Greece will be forced from the Eurozone. Stocks rebounded from their worst levels after Greek Finance Minister Vaoufakis resigned, which boosted speculation a last-minute deal with Greece's creditors was possible.

🇨🇳 China's Shanghai Composite Index closed up +2.41% after surging as high as 7.8% at the start of trade. The government suspended initial public offerings and the PBOC said it would provide liquidity for margin trading ($19b capital base).

🇭🇰 Hang Seng index reversed direction to slump 3.2%, hitting a near three-month low, as index heavyweight Hong Kong Exchanges and Clearing plunged 9%.

👑 Gold fell as a robust dollar outweighed the impact of lower equity markets and some retail demand after Greek voters rejected the terms of a bailout in the earlier session. However, gold turned higher at closed as France and Germany told Greecethe door was open to negotiations. Now, $1,169.40 (-0.60)

🌴 FCPO (RM2,235) closed lower after sharply lower China Dalian futures and crude mineral oil. Long liquidation and technical selling added price pressure. Fundamentally, the seasonal higher production and big global supply of soyabean are weighing on the market.

🌺 Malaysia's ringgit plunged on Monday to levels not seen since the late 1990s Asian Financial Crisis, taking a double whammy from the dual dramas of domestic corruption allegations and Greece. Now trading at RM3.8100.

Trading Tips for the Day - 6 July 2015

FKLI will open lower today, for the first trade, one can attempt to Short 1-3 points above the opening price.  Try get 5-7 points profit and put a stop 5 point away from your entry point.  Close your position by the end of the day.

As for FCPO, market closed slightly higher Friday in a slow trading session. Fresh incentives were lacking with CBT closed tonight. Buying was encouraged by higher CBT soyoil and firmer China Dalian futures. Weekend short covering added support. Seasonal third quarter weakness and lack of bullish conviction checked gains. Prices were 1 to 18 higher in the morning and 11 higher to 3 lower in the afternoon.

There are no new factors. Buyers will be looking for signs of El Nino and continuation of excessive rains in the US soyabean growing areas. Sellers will be pointing towards weakness from the approaching peak production period of August - October. Meanwhile, some attention may be drawn towards the Greece situation this weekend, where any debt default and exit from the eurozone will undermine sentiment. Market will also be looking towards the MPOB June data and the 1-10 July exports in the coming week for incentives.

Technical view - indicators remain neutral with prices continuing to hold within the 2220 - 2285 range.  Trend sideways ; RSI 53.50 ; parabolic SAR at 2292 ; support 2220 / 2150 / 2120 ; resistance 2285 / 2300 / 2330 / 2360.  Interested to open an account to start trading futures? PM me for more info or visit http://jaceonmarkets.blogspot.com

Trading Tips for the Day - 3 July 2015

FKLI will likely open lower today, for the first trade, one can attempt to Short 1-3 points above the opening price.  Try get 5-7 points profit and put a stop 5 points away from your entry point.  Close your position by the end of the day.

Trading Tips for the Day - 2 July 2015

FKLI will likely open a little higher today, for the first trade, one can attempt to Long 1-3 points below the opening price.  Try get 5-7 points profit and put a stop 5 points away from your entry point.  Close your position by the end of the day.

In other news...

 Oil prices slumped 4% Wednesday, with U.S. crude headed for its sharpest daily loss since late May, on signs of progress in Iranian nuclear talks and after the first rise in crude stockpiles in the United States in more than two months.
* Crude oil $56.86 (-2.61)
* Brent crude $62.46 (-1.68)

📝 A new proposal for budget cuts and policy overhauls from Greek Prime Minister Alexis Tsipras was dismissed by European officials as insufficient to revive negotiations over a new bailout.

🇺🇸 U.S. stock prices rose as investors appeared reassured by signs that Greece and its creditors have a willingness to negotiate. Also, economic reports were upbeat.
* Private payrolls in the U.S. increased by 237,000 jobs in June vs expectation of 220,000.
* The ISM’s manufacturing purchasing managers index rose to 53.5 in June from 52.8 in May, beating expectations of an increase to 53.2.

💵 The dollar rose against the euro and the yen, after better-than-expected U.S. jobs and manufacturing numbers signaled a strengthening economy.

€ European stocks were up after Greek Prime Minister Tsipras signaled he was ready to compromise to end the impasse over a Greek bailout. Eurozone finance ministers will discuss the latest developments today and the ECB will discuss whether to maintain their emergency lifeline to Greece's banks.

🇨🇳 China's Shanghai Composite tumbled -5.23% on continued margin selling by investors with losing stock positions and after weaker-than-expected factory data showed China's economy remains sluggish.

🇨🇳 The China Jun manufacturing PMI was unchanged at 50.2, weaker than expectations of +0.2 to 50.4.

🇨🇳 China’s stock regulator approved plans for six IPO despite a market slump into bear territory and no sign of immediate recovery.

🇯🇵 Japan's Nikkei Stock Index closed up +0.46% after a stronger-than-expected Japan Q2 Tankan large manufacturing business conditions unexpectedly rose +3 to 15, better than expectations of no change at 12 and the highest since Q1 of 2014, signaled an improvement in business optimism.

👑 Gold ($1,167.8) fell to near its lowest in almost four weeks, on a stronger dollar and hopes for progress in the Greek crisis after the country told international creditors Athens could accept their bailout offer if some conditions were changed.

🌴 FCPO (RM2,267) recovered all Monday's losses. Buying was encouraged by strong gains in CBT soyoil and sharp rebound in China Dalian futures. Sentiment was also underpinned by Southern POMA's report of lower June production and reports of low water levels in reservoirs in Johor due to very dry weather.

🌺 Malaysian stock market headed to its best gain in over 2 years and the ringgit advanced as investors turned upbeat after Fitch Ratings raised the outlook on Malaysia to Stable from Negative.

🇳🇿 Australia is expected to report a May trade deficit of $2.2 billion Australian dollars. April’s deficit more than tripled to $3.9 billion Australian dollars – the country’s largest monthly trade deficit on record – as the value of resource exports fell, sharply eclipsing a rise in imports of capital goods

Trading Tips for the Day - 1 July 2015

FKLI will likely open a little lower today, for the first trade, one can attempt to Short 1-3 points above the opening price.  Try get 5-7 points profit and put a stop 5 points away from your entry point.  Close your position by the end of the day.

As for FCPO, market eroded to a one week low yesterday, following sharply lower China Dalian futures. Easier CBT soyoil and weakness in crude mineral oil provided early pressure. Long liquidation and technical sell stops below 2250 added weight. Losses were held by the record high 1-30 June exports, although the numbers were within those rumoured yesterday. Prices gapped 20 to 46 lower in the morning and remained weak throughout the afternoon.

The sharp erosion pointed to bearish sentiment tied to seasonal weakness from the approaching peak production months in August - October. However, the short term fundamentals are supportive. The 1-30 June exports were of record high and will result in lower end June stocks, with production reportedly to be slightly lower vs May. Excessive rains in the US is also supportive while global production of rapeseed are forecast to be lower.

Technical view - Prices are still in a sideway range, but within the broad down trend channel.  Trend sideways ; RSI 46.01 ; support 2220 / 2150 / 2120 ; resistance 2260 / 2300 / 2330 / 2360.

In other news..

Fitch has affirmed Malaysia's Long-term foreign currency Issuer Default Rating (IRD) at 'A-' and local currency IRD at 'A'. The outlook on the Long-term IRDs has been revised to Stable from Negative. Fiscal finances Supportive factors: reasonably strong GDP growth rates, low inflation volatility, GST and fuel subsidy reform. Ringgit trading at 3.7270 now.

📢 It's official. The IMF announces that Greece did not make a 1.5 billion euro payment to the Fund.
In a statement, the IMF said it did receive a request for an extension of the repayment -- and the IMF board says it will consider that request "in due course."

🇺🇸 U.S. stocks closed slightly higher, with the Dow and S&P 500 rebounding from their biggest losses of the year, as a last-minute diplomatic scramble got under way to keep Greece from defaulting on its debt payments.

🇺🇸 U.S. government bonds have had their biggest quarterly selloff since December 2013, hurt by an improving U.S. economic outlook and the Federal Reserve’s pending shift into higher interest rates.

€ European equities closed in the red on Tuesday as Greece remained firmly in the spotlight for investors. The markets will now look to see if the ECB withdraws support for Greek banks if Greece misses its $1.7 billion debt payment due to the IMF today.

* The Eurozone Jun CPI estimate rose +0.2% y/y, right on expectations.

* The Eurozone May unemployment rate remained unch at 11.1%, right on expectations and the lowest in 3-1/4 years.

💴 The yen rose to more than one-month highs against the euro and the dollar as new developments in Greece, including a looming loan payment, ramped up market uncertainty and drove investors into assets perceived as safe. Now, YEN/USD 122.49.

⛽ US oil settles up $1.14, or 2%, at $59.47 a barrel, posting a 25% quarterly gain, after Iran and six world powers extended the deadline for nuclear talks until July 7.

👑 Gold prices fell as the prospect that Greece would default on a repayment to the International Monetary Fund knocked the euro against the dollar, and as investors remained wary over the metal's longer-term prospects. Now, $1,172.70.

🌴 FCPO (RM2,229) closed lower after sharply lower China Dalian Futures. Long liquidation and technical sell stop below 2,250 added pressure. However, the 1-30 June exports were of record high and will result in lower end June stocks, with production reportedly to be slightly lower vs May. Prices are still in a sideways range but within the board down trend channel.

Trading Tips for the Day - 30 June 2015

FKLI will open lower for today as the Greek crises deepen.  For the first trade, one can attempt to Short 1-3 points above the opening price.  Try get 5-7 points profit and put a stop 5 points away from your entry point.  Close your position by the end of the day.

Trading Tips for the Day - 29 June 2015

FKLI will open lower today with the Greece crises deepening.  For the first trade, one can attempt to Short 1-3 points above the opening price.  Try get 5-7 points profit and put a stop 5 points away from your entry point.  Close your position by the end of the day.

Trading Tips for the Day - 26 June 2015

FKLI will likely open lower today, for the first trade, one can attempt to Short 1-3 points above the opening price.  Try get 5-7 points profit and put a stop 5 points away from your entry point.  Close your position by the end of the day.

As for FCPO, late selling closed market slightly lower yesterday after trading higher most of the session. Selling was led by long liquidation on lack of bullish conviction. Market extended gains for the 3rd consecutive day earlier following gains in CBT soyoil, China Dalian futures and weaker ringgit.

The very good 1-25 June exports also underpinned sentiment although numbers were already rumoured yesterday. Prices were 15 to 3 higher in the morning and held steady around 3 to 10 higher most of the afternoon session. The big exports in June todate and reports of lower production are supportive. Together with the introduction of export levy by Indonesia from 1st July, excessive rain in the US, and prospects of weaker ringgit, the near term outlook is positive. However, bullish conviction seems lacking with seasonal weakness from the approaching peak production months of August - October.

Technical view - the lower close after prices retraced to fill the 2280 gap left on 17 June is slightly negative. Prices may turn sideways in a 2227 - 2285 range. Ringgit ~ 3.7560 / 3.7580 vs USD.  Trend sideways ; RSI 53.23 ; support 2250 / 2220 / 2150 / 2120 ; resistance 2300 / 2330 / 2360 / 2400. 

In other news...

🇨🇳 China's Shanghai Composite down -3.46% on valuation concerns. 
Earlier in the session, the Shanghai index steadied at modest gains following news that authorities scrapped the 75% loan-to-deposit limit, which could mean more credit flows into the economy.

📝 A deal on new bailout funds for Greece was put off until the weekend, as both Athens and its creditors bet that an impending payment deadline would bring them extra concessions.

€ European stocks were up on optimism that the Greek debt crisis can finally be resolved. Eurozone finance ministers will meet later today in Brussels to look over a revised plan sent by the Greek government to stave off default after Greece and its creditors failed to reach a deal.

🇺🇸 U.S. stocks ended lower Thursday as Greece’s bailout talks with creditors appeared set to stretch into the weekend.

🇺🇸 U.S. consumer spending gained 0.9% in May, the biggest monthly rise since 2009, the fastest rate in almost six years—is the latest sign the economy is rebounding from a winter contraction.

⛽ U.S. oil prices edged back below $60 a barrel, extending losses for a second day after government data showed a surprise increase in inventories of refined fuels such as gasoline.

👑 Gold prices edged lower, as the markets awaited further news on negotiations between Greece and its European creditors. Now, $1,175.0

🌴 FCPO (RM2,264) closed slightly lower after trading higher most of the session. Selling was led by long liquidation on lack of bullish conviction. However, the big exports in June and reported of lower production are supportive. The lower close after prices retraced to fill the 2280 gap is slightly negative. Prices may turn sideways in a 2227-2285 range.

🌺 KLCI closed at 1716.81, which was the lowest since Jan 7. Foreign selling of IHH, Tenaga and TM erased a total of 6.55 points from the KLCI. 
* 2015 year low : 1706.18
* 2014 year low : 1671.82
* 2013 year low : 1597.0

** FKLI**
* 2015 year low : 1693
* 2014 year low : 1666.5
* 2013 year low : 1585.5

🌺 Ringgit dropped the most in Asia on speculation Fitch Ratings will downgrade the country as the U.S. Moves toward raising interest rate. Currently, Malaysia rank at A-, with negative outlook, will review its assessment before end of June.

Trading Tips for the Day - 25 June 2015

FKLI will likely open lower today, for the first trade, one can attempt to Short 1-3 points above the opening price.  Try get 5-7 points profit and put a stop 5 points away from your entry point.  Close your position by the end of the day.


In other news...

Remarks from European finance ministers suggested a Greek bailout deal wasn’t likely to be reached until later this week. Significant divisions remain over measures Greece must implement to receive the bailout funds. Earlier, Greek Prime Minister Alexis Tsipras attacked the country’s international creditors after they rejected a list of economic measures Greece said it was willing to undertake in exchange for financial aid.

🇺🇸 U.S. stocks ended lower, with the Dow industrials posting their biggest one-day decline in nearly a month, as recent optimism about a bailout deal for Greece faded.
* Dow -178
* S&P -15
* Nasdaq -37

€ European stocks were down after Greece's creditors were said to reject its proposals for more aid. Another negative for European stocks was the larger-than-expected decline in German business confidence as the Jun IFO business climate fell -1.1 to 107.4, to its lowest in 4 months.

🇯🇵 Nikkei 225 index edged up to its highest level since December 1996, supported by signs of a recovery in the world's third-largest economy, earnings optimism and expectations that Greece will avoid a debt default.

⛽ Oil prices declined after key inventory data showed that crude-oil supplies shrank last week but inventories of refined products rose. 
* Crude oil $60.24 (-0.77)
*Brent crude $64.23 (-0.9)

👑 Gold fell to a two-week low as the dollar pared earlier losses versus the euro and traders awaited news on Greece's negotiations with its international lenders to avoid default. Now, $1,175.95.

🌴 FCPO (RM2,270) closed sharply higher as higher China Dalian futures, weak Ringgit and strong gain in crude mineral oil. The technical oversold situation in the stochastic added support. Strong gain continued in the afternoon session following report on lower 1-20 production by MPOA and rumours on good export. Price may filled the gap at 2280, left on 17 June.

Trading Tips for the Day - 24 June 2015

FKLI will likely open a little higher today. For the first trade, one can attempt to Short 1-3 points above the opening price.  Try get 5-7 points profit and put a stop 5 points away from your entry point.  Close your position by the end of the day.

Trading Tips for the Day - 23 June 2015

FKLI will likely open higher for today.  For the first trade, one can attempt to Long 1-3 points below the opening price.  Try get 5-7 points profit and put a stop 5 points away from your entry point.  Close your position by the end of the day.

As for FCPO, market eroded further with prices returning to fill the gap left on 29 May. Selling was tied to continuing bearish sentiment on ideas of increasing production and stocks in coming months. The very good 1-20 June exports were discounted as already expected. Market was higher early following gains in CBT soyoil. Trading was slow throughout due in part to holiday in China.

Prices were 8 higher to 8 lower in the morning and dropped to 19 lower in the afternoon. Unless there are weather concerns, market is likely to come under pressure from increasing production in coming months. There is little sign of El Nino at present and Indian monsoon looks good. Some excessive rains were affecting the US soybean crop but seems to be of no major concern. However, good demand especially for festive Ramadan may limit the downside.

Technical view - indicators remain negative with prices eroding to new lows. Prices likely to test 2200. Ringgit ~ 3.7300 / 3.7340 vs USD.  Trend down ; RSI 44.76 ; stochastic oversold ; support 2200 / 2150 / 2120 / 2070 ; resistance 2280 / 2330 / 2360 / 2400.  Interested to trade futures? PM me or visit http://jaceonmarkets.blogspot.com

In other news...

 European policy makers said Monday the eurozone is working toward a deal later this week to provide bailout aid for Greece. The policy makers appeared to offer hope that an agreement is still reachable after a monthslong deadlock that has spurred talk of a potential Greek exit from the eurozone.
📝 Greece’s creditors suggested for the first time that a deal to avert the country’s bankruptcy was in sight after an 11th-hour proposal submitted by Athens made a significant concession on pension cuts.
🇺🇸 U.S. stocks advanced, propelling the Nasdaq Composite to a record close, lifted by gains in health-care and financial shares as well as optimism that Greece will eventually reach a bailout deal with its creditors.
€ European stocks were up at a 1-week high on optimism a deal to unlock bailout funds for Greece can be reached. Greek Prime Minister Tsipras unveiled a new plan to break the month-long impasses in debt talks and European Economic Affairs Commissioner Moscovici said the plan goes "in the right direction."

📝 Greek bank stocks also surged after the ECB today raised the ceiling of maximum potential Emergency Liquidity Assistance (ELA) available to Greek banks for the third time in less than a week.

📝 Asian stocks moved higher on optimism a resolution can be reached to the Greek debt crisis as Japan's Nikkei Stock Index closed up +1.26% at a 1-week high.

⛽ Crude oil futures swung higher after falling on concerns that U.S. demand for gasoline may fade after a strong stretch and in worries about the potential fallout from the Greek debt crisis.
* U.S. crude $59.68 (+0.07)
* Brent crude $64.23 (+0.46)

👑 Gold fell more than 1% on Monday as global equities jumped on possible signs of progress in Greek debt talks, which curbed safe-haven demand for the metal.

🌴 FCPO (RM2,220) closed lower and filled the gap left on 29 May. Selling was tie to continue bearish sentiment on ideas of increasing production and stocks in the coming months. Unless there are weather concerns, market is likely to come under pressure.

Trading Tips for the Day - 22 June 2015

FKLI will likely open a little higher today, for the first trade, one can attempt to Long 1-3 points below the opening price. Try get 5-7 points profit and put a stop 5 points away from your entry point.  Close your position by the end of the day.

 As for FCPO, market closed about unchanged after an erratic trading session. Erosion in CBT soyoil and China Dalian futures opened market lower. Weekend profit taking and ideas that losses yesterday were overdone brought better buying. Together with weaker ringgit, which lost up to 0.8 pct vs USD, market extended gains in the afternoon. However, slower export pace for 1-20 June exports resulted in market easing towards close. Prices were 10 lower to 14 higher in the morning and rose to 23 higher in the afternoon before coming off.

Market will be looking towards the 1-20 and 1-25 June exports to be reported by cargo surveyors next week for some incentives. Unless exports are better than a month ago, stocks will increase as production is likely to be slightly higher on better harvest ahead of Ramadan. In any case, expect market to show greater emphasis towards the weather situation, particularly in the US and India.

Technical view - no change in negative indicators. Prices may move to 2200. Ringgit ~ 3.7390 / 3.7420 vs USD. Trend down ; RSI 47.74 ; support 2225 / 2150 / 2120 / 2070 ; resistance 2280 / 2330 / 2360 / 2400.

In other news...

Greece and its foreign creditors and with anxious depositors pulling billions of euros out of Greek banks, Greek Prime Minister Alexis Tsipras made a new offer on a reforms package on Sunday, showing a new willingness to make concessions that could unlock frozen aid to avert a default. Both sides are due to continue the negotiations at a crisis summit in Brussels this week.

🇺🇸 U.S. stocks closed lower on Friday following the Nasdaq's record high as investors eyed developments in the Greece debt negotiations amid quarterly options expirations.

€ European stocks were positive on Friday as optimism the Greek debt crisis can be contained. Greek bank stocks rose and led European stocks higher on speculation the ECB will extend a lifeline to Greek lenders after three people familiar with the matter said the ECB plans to hold an emergency session of its Governing Council today to discuss the deteriorating liquidity situation of Greek banks.

€ The Eurozone Apr current account shrank to a surplus of 20.4 billion euros (nsa) from the downward revised 24.4 billion euro surplus from Mar.

🇨🇳 China's Shanghai Composite down -6.42% at a 3-week low as it corrects lower from its recent 7-1/3 year high on valuation concerns. The slide was also sparked by fresh tightening moves on margin lending by the China Securities Regulatory Commisiion (CSRC), as well as a deluge of initial public offerings (IPOs) that posed a huge threat to market liquidity.

🇯🇵 Bank of Japan(BOJ) largely stuck to the script in its rates decision on Friday, maintaining its massive asset buying program which increases the money base at an annual pace of 80 trillion yen ($650 billion).

⛽ Crude oil fell >1% on Friday, the first decline after three days of gains, as worries over the Greek fiscal crisis, weaker oil products prices and pre-weekend profit taking undercut the market.

👑 Gold held near a three-week high on Friday and was set for a second weekly gain, bolstered by the U.S. Federal Reserve's caution on an interest rate rise and worries over Greece, even as a recovering dollar capped gains. Now, $1,198.70 (-1.4)

🌴 FCPO (RM2,237) closed unchanged after an erratic trading session. Market opened lower as erosion in CBT Soyoil and China Dalian Futures. However, due to weekend profit taking and ideas that losses were overdone brought better buying. Market looking forward the 1-20 and 1-25 June exports this week for some incentive in direction. Indicators remain in negative side.

Trading Tips for the Day - 19 June 2015

FKLI will likely open higher today, for the first trade, one can attempt to Short 1-3 points above the opening price.  Try get 5-7 points profit and put a stop 5 points away from your entry point.  Close your position by the end of the day.

As for FCPO, market eroded to its lowest level since 29 May. Selling followed sharply lower close in China Dalian futures. Stronger ringgit, which gained about 1.3 pct vs USD, added pressure. Technical sell stops as prices broke below 2250 magnified losses. Prices gapped 21 to 39 lower in the morning and extended losses to 56 lower in the afternoon, closing around the low.

In the absence of adverse weather reports, there is little bullish incentive. Most reports are indicating the possibility of El Nino weather towards the last quarter of the year. Seasonal weak period towards the peak production months of August - October will likely dominate sentiment. However, strong demand for festive Ramadan will provide some short term support.

Technical view - the break below 2250 turned indicators negative. Prices may move to 2200. Ringgit ~ 3.7080 / 3.7100 vs USD.  trend sideways ; RSI 47.74 ; parabolic triggered a "sell" signal at 2261 ; 5-day MA intersected 20-day MA from above ; support 2225 / 2150 / 2120 / 2070 ; resistance 2280 / 2330 / 2360 / 2400 / 2450.

In other news...

🇺🇸 U.S. stocks rose broadly, propelling the Nasdaq to a record high, as investors embraced signs that the Federal Reserve would take a slow approach to raising rate.
* Dow 18,115 (+180)
* S&P 2,121 (+20)
* Nasdaq 5,132 (+68)

🇺🇸 U.S. consumer prices posted the largest monthly increase in May in more than two years, a sign modest inflation pressures are beginning to build.

💵 The dollar index is down -0.52% at a 1-month low after the Fed on Wednesday signaled a gradual pace of tightening.

€ European equities closed higher on Thursday, as a key meeting of euro zone finance ministers started in Luxembourg, where Greece could be presented with a "take-it-or-leave-it" reforms-for-rescue plan.

🇯🇵 Japan's Nikkei Stock Index down -1.13% at a 4-week low as a rally in the yen to a 1-week high against the dollar dragged down Japanese exporters.

🇨🇳 China’s stock market fell sharply Thursday, with the smaller ChiNext index suffering one of its worst days on record, as analysts turn increasingly wary of what they see as a bubble in the country’s equities.

🇨🇳 China's new home prices fell in fewer cities for a third month as the government removed some property curbs and interest rates fell. The National Bureau of Statistics reported that May new-home prices fell 41 of the 70 cities tracked by the bureau.

🇨🇳 China May foreign direct investment rose +7.8% y/y, less than expectations of +8.0% y/y.

⛽ Oil prices rose for a third straight day, helped by a weaker dollar and data showing draws this week at the delivery point for U.S. crude futures.

👑 Gold prices soared to their highest level in nearly four weeks as buyers flocked back to the market in response to the Federal Reserve’s cautious tone on raising interest rates and as concerns about Greece stoked demand for a haven. Now, $1,201,25.

🌴 FCPO (RM2,237) eroded to its lowest level since 29 May. Selling followed sharply closed in China Dalian futures and strong Ringgit. Technical sell stop at 2,250 added selling pressure. Price below 2,250 turned indicators negative. Prices may test 2,200.

🌺 PM Najib said Putrajaya's debt as of March this year stood at RM596.8 billion or 51% of GDP. Of the amount, 97% is domestic debt and balance is offshore loans.

🌺 FBMKLCI is expected to stay weak as TNB could continue to weigh on the local market sentiment after the news that the state-owned utility would buy a 70% stake in Malaysia's 3B power plant project from 1MDB.