Dow Jones: 17,535.32 pts (-185.18pts, -1.05%)
U.S. stockmarkets declined sharply below the EMA20 level amid lacklustre results from large retailers like JC Penney. 

FBM KLCI: 1,628.26 pts (-20.72pts, -1.26%)
The FBM KLCI declined for the fourth consecutive week and it is hovering below the daily EMA9 level. Upside will be capped around 1,660, while the support will be located around 1,600.

Crude Palm Oil: RM2,560 (-RM59, -2.25%)
CPO ended lower amid weaker sentiment in global financial market, coupled with the softer soybean oil market. Immediate support will be anchored around RM2,500 and the resistance will be set around RM2,600.

WTI Crude Oil: $46.21 (-$0.51, -1.09%)
WTI crude oil prices traded above the US$46 level as China's refineries processed crude at record level and the number of active rigs in the U.S. declined, according to a data from Baker Hughes (U.S. oil rig count down 10 to 318); potentially easing a supply glut.

Gold: $1,273.45 (+$10.34, +0.82%)
Gold rebounded off the US$1,260 level and could be forming a potential breakout-pullback-continuation pattern towards the US$1,300 level.

Economic Releases:
US - US Empire State Manufacturing Survey - 16 May 16, 8:30PM
US - National Association of Home Builders Market Index - 16 May 16, 10:00PM

Bursa Malaysia Trade Statistics - 13 May 16
Institutions:  Net BUY 545.0 mln (56.4%)
Retail:  Net BUY 112.6 mln (13.5%)
Foreign:  Net SELL 657.6 mln (30.1%)

Potential Momentum Stocks - 16 May 16
Stock Name: EWEIN (7249)
Entry: Buy around RM0.96
Target: RM1.04 (8.3%), RM1.10 (14.6%)
Stop: RM0.92 (-4.2%)
Technical: Short term breakout

Stock Name: TPC (7176)
Entry: Buy above RM0.50
Target: RM0.55 (10.0%), RM0.58 (16.0%)
Stop: RM0.48 (-4.0%)
Technical: Potential sideways breakout

Source: Bloomberg, M+ Online

Disclaimer

The content published is solely for information and personal use only. It should not be construed to be, any advice, recommendation, offer or invitation to buy or sell any securities, futures contracts or any other instrument. Readers should seek independent advice from their own professional advisers (including legal, tax, financial and accounting) as to the risks and merits before entering into any transaction pursuant to or in reliance on any information here.

The content published above shall only be for your sole and personal non-professional use. No guarantee is given on the accuracy or completeness of the information published here. No warranty whatsoever is given and no liability whatsoever is accepted for any loss arising whether directly or indirectly as a result of any person or group of persons acting on such information.