Tuesday, August 04, 2009

MarketWrap : suprisingly toppish...a bad sign ?





Limited-upside for fkli. Fbm did hit new highs. Fkli generally weak when regional strong and soft when regional weak. Strong selling interest…probably profit-take, near1180 in early AM set fkli tone lower. But tight range…. the “narrowest” H-L range since 26/6.

Regional strong start but profit take set in later. HS snaps 3-day rally.

Technically, not much today… ..just missed a breakout. Fkli remains toppish..fbm is looking good. 7SMA support is closing-in with Aug09- another testing time for bulls.


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