9:30 am - FKLI gap today and push further through.

Watch for the newspapers in Star. If you get a headline for breaking 1500+ in the front page or headline, the market will react badly and profit taking will occur for most of the times.

8:07 am - FCPO closed record high @ 3201

7:56 am - DJIA is building a support here ! DJIA +146 pts.

5:31 pm - FKLI selldown as most players do not like to carry over the holiday.

However, there was a last min push to 1503.0

3:18 pm - FCPO has broken new high at 3204

An opportunity to go long here !

12:40 pm - My newsletter recomendation goes for LONG position at 1507

Let's see if it will hit 1507 today and closed above or at 1507.

No tradeguider signal so far.

You have to trade based on pattern or other signals e.g. breakout or dips.

12:29 pm - FCPO is hitting new high today at 3189

IF FPCO is hitting new high, our KLCI will run away too. So does our FKLI.

FKLI has broken through 1499/1500. It hits 1501.5 high.

11:44 am - FCPO is congesting around 3156/3187

11:22 am - FKLI cannot break 1499 and thus, form a double top

This looks like an short opportunity. What is the current major trend ? Do not fight the major trend.

Let's wait for the next test for 1499 again.

10:45 am - FKLI is going to test 1499/1500 for the 2nd time

Will it succeed ! Maybe. Let's see !

10:00 am - DJIA broken the major support and heading downtrend

Cash is down - 7 pts but FKLI is holding nicely at 1489/1490.

The FKLI has had a good run to the top. The last high at 1499. It takes a lot of volume to break thru 1499/1500 again. The FKLI market may congest/ go sideway and maybe retrace back.

The market need to consolidate first as a lot of players are taking profits.

5:19 pm - FKLI hits all time record @ 1499 but closed 1490.5

It's going for 1500 and above.

4:10 pm - FKLI go for 1500. Current at 1487.5

Being stop out and wash out yesterday, only trade Tradegudier buy signals on intraday.

No signal on Positioning System.

2:50 pm - TG has a weakness on Positioning System

The market is holding up nicely and breaking high to 1483.5. Long on intraday trade. Long at 1482.0

2:11 pm - DJIA is either forming a triple bottom or else...

DJIA is at critical level. It has a support around 12,800. If tonite, it closes below 12,800, we have downtrend continuation.

However, if we see a reversal tonite, the DJIA may rally.

11:20 am - Cash market is mushrooming down.

Wait until afternoon to see if there is any push up.

10:24 am - FKLI reacting to Hang Seng and facing resistance @ 1480

If it breaks 1480 again, this is a buying opportunity.

Interestingly, the MACD did not cross down at all during yesterday selldown. The MACD is still up !

9:47 am - The double top formed last night fails. Broken the resistance @ 1470

The FKLI wants to go higher. Our Tradeguider signals yesterday indicates weakness. Abandon trade to short last min. Else we wud be stop out today.

Waiting for signals to go long. If FKLI break 1488 i.e. weekly pivot, go long. Read my newsletter recommendation.

8:38 pm - Watch out for Jan 30/31 FOMC meeting by the Federal Reserve. They are looking to cut interest rate again !

Wall Street heads to higher open
NEW YORK (AP) - Wall Street headed for a rebound Monday amid speculation that the Federal Reserve will cut interest rates to ward off a recession. There is little in the way of corporate or economic news expected during the session. Instead, investors are looking toward Thursday's speech from Fed Chairman Ben Bernanke for clues about the central bank's intentions. Further moves by the Fed at its Jan. 29-30 meeting can't come soon enough for some traders. Wall Street dropped sharply on Friday after a government report showed a jump in the unemployment rate and sluggish payroll growth. In just the first three trading days of 2008, the Dow Jones industrial average lost 3.50 percent, the Standard & Poor's 500 index fell 3.86 percent, and the Nasdaq composite index dropped 5.57 percent. On Monday, Dow futures rose 55 points, or 0.48 percent, to 12,942.00. Broader indexes also indicated a higher open, with Standard & Poor's 500 index futures up 7.90, or 0.56 percent, at 1,430.80; and Nasdaq composite futures up 8.00, or 0.40 percent, at 1,993.00. Bond prices were little changed in overnight trading Monday after a rally during the past week. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.88 percent from 3.87 percent late Friday. Investors might get some relief Monday from falling crude prices. Oil dropped as energy traders reacted to the potential of a recession in the U.S. after last week's disappointing employment report. A barrel of light, sweet crude dropped 52 cents to $97.39 in pre-opening trading on the New York Mercantile Exchange. More clues about the economy are expected from fourth-quarter earnings season. Aluminum producer Alcoa Inc. on Tuesday will be the first of the 30 Dow Jones industrials to report results. In corporate news, Time Warner Inc. could be in focus after the entertainment company announced it plans to release high-definition movies on Blu-ray rather than Toshiba Corp.'s HD DVD formal. Blu-ray is owned by Sony Corp. The announcement comes as the Consumer Electronics Show kicks off in Las Vegas this week. Overseas, Japan's Nikkei stock average closed down 1.30 percent. Britain's FTSE 100 rose 0.23 percent, Germany's DAX index added 0.34 percent, and France's CAC-40 was up 0.41 percent. Copyright 2007 Associated Press. All rights reserved. This material may

8:34 pm - My newsletter recommends LONG position for FCPO if it break 3170.

Another reasons for LONG FCPO is Japanese candlestick - Bullish Engulfing pattern on EOD.