Daily Summary - 16 Mar 2012

YOUR MORNING COFFEE – Friday 16/3/2012

SUMMARY
· Wall St closed 0.4% higher, due to improving economy. The weekly initial jobless claims dipped to a 4 year low of 351,000. Regional activity in New York area, the Empire manufacturing index, jumped to
20.2, higher than the 15 estimate. Wholesale inflation PPI up 0.4%, lower than the 0.5% estimate.
· Dow of 13,252, is targeting 13,279. Previous high is 14,198. RSI of 71, is on a spike up. Caution is on the key support 12,970, which will be negative if breached.
· Dollar Index is lower at 80.2. Upside is at 81.0.
· Crude oil is lower at USD105.1. Support is at 101.0.
· Dollar yen is lower at 83.5 yen. Resistance is at 85.6.
· Euro/dollar is higher at 1.308. Support is at 1.292.
· Gold is higher at USD1659. Downside is at 1625.
· Shanghai closed lower at 2,373.
· Singapore STI closed lower at 3,025.
· Ringgit is firmer at 3.053. Downside is at 3.110.
· S’pore ringgit is higher at 2.415. Resistance is at 2.430
· Malaysian market closed higher at 1579. On the Daily chart, it broke the 200 MA of 1504, indicating a further upward push to 1609. Support is at 1550. RSI of 60, is neutral. Today’s range is between
1576 and 1586.
· CPO April futures is higher at RM3393. Resistance is at 3400.
· Trading : CIMB ( 1023 : 7.57 ) : Targeting 7.86, YTL ( 4677 : 1.80 ) : Targeting 2.00, TIGER ( 7079 : 0.15 ) : Targeting 0.20, INGRESS ( 7112 : 1.02 ) : Stop loss 0.96

Source:Jupiter Securities Research 16 March 2012