Monday, January 18, 2010

FKLI wrap : manage to keep bullish outlook



-despite DJ overnight losses and weaker regional, fbm.fkli maintains positive posture after fending off early selling pressure. Internal strength provided support.

-while mostly lower, regional losses were limited to DJ effect and occasionally bargains buying. With DJ holiday tonight, eyes on Europe. For start, Europe flat to +0.5%

-technical outlook remains strong – above 7SMA despite DJ triple digit losses. Just missing the anticipated follow through today. Bulls are waiting for the right time …polishing horns at mom!

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