Trading Tips for the Day
The DJIA slipped 245.4 points to 8769.7 when Intel gave grim revenue warning and reports of unemployment in the US continue to rise.
Expect the KLCI Futures market to open lower. Resistance level to short is seen at 928 while support level to long at 915. If market breaks above 934 one can attempt to trade breakaway by going long, and if market breaks below 909 one can attempt to short the market.
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Lots of tech layouts this year… Intel could be sooon… so the market shall be pretty bad this year ??
Market will probably not rebound until the 4th quarter of this year when Obama’s economic plans start to kick in. More layoffs will occur surely, the market needs time to adjust to this shock