Wednesday, May 19, 2010

Morning slump...fkli weak 20-25 fcpo weak 2520-30

DJ -114, stocks slumped Tuesday as the euro touched a fresh four-year low versus the dollar, reigniting fears of a second recession Europe however, 1% higher.

8.15 : DJ futs -70. Euro/$ -2%. CO tumbles 5%. GOLD flat, near 1230, off Mon's record high of 1250. Regional -1%.

fkli : a setback of bulls, fkli is seen back to its critical support of 20. however, 20 looks good as day's support unless fbm breaks 18. Below 25 is bears' zone.


fcpo SO -1%. 2400 back in danger. but at current rate fpco is at it immediate support lvl of 2420. Below 2420 -ve, 2400-2420 range, and potentially bearish.

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