Tuesday, February 02, 2010

Fkli wrap...while no breakdown..obviously cautious




-a quiet dayfor fkli, morning high afternoon low, tracking HS index. Sentiment turn cautious in PM on HS weak opening in PM session, from +43 to -20. Fbm stagnant for most of the day, helping fkli to sustain above 1260.
-Europe off to soft start at 4pm , within -0.5%, after two days of 2% rebound. DJ futs point to weaker DJ tonight, -13.
-technically, no big changes, bears-bias day though. With upside seen as a rebound, focus is still on the sell side for trend, like if 1260 breaks tomorrow and especially if 1250 1250 breaks.

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