Thursday, January 14, 2010

FKLI wrap : this time for real ? initiating a breakout



-equities strong across the board on financials/commodities stock bargain. Regional, except HS -30 on late selling activities, and Europe at +1%.

-fkli managed to reverse yest’s negatives and return to a more upward-bias band of 95-00. But no breakout still, due the premium over fbm - sixth attempts at 1300 and fbm remains a drag.

-bulls can cheer as the fkli did finish with a white candle, the first in 6-day Plus both fbm/fkli cross back above 7SMA – renewing hopes of a breakout even though a 90-00 range trading remains possible until a closing above 1300

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