fKLI : morning gossip

DJ -30, lack follow through after the Commerce Department reported record lows for housing starts and building permits in April.

DJ futs +2. NK +100/+1%. Kos +2.

FKLI is seen range bound as the current external factors would not be enough to trigger a major breakout. I suspect profit taking may set in first. Major move is only expected after HS opens.

FKLi is seen opening lower around 1023. Day range is seen at 1016-1040. While May09 is in positive territory, SMAs are not encouraging yet-t oo small of a gap between 7 and 14 SMA. At best, signals are mixed now.