Friday, July 09, 2010

Fkli wrap...+23 this week...next run if > 1330





Mkt stayed bullish after a breakout above 1320 in late AM session. Strong HS/SH boosted sentiment across the board.. Banks and resources continued their 2-day run.

A resumption of Jun’s uptrend or just a rebound from oversold area ? Still the latter unless mkt breaks above 1340 or 1350.

Technically bullish if above 1320. Fkli immediate support is raised to 1315. A breakout of 1330 on Monday could see 1330-50 for weekly trend after a 3-week break. Otherwise, it will consolidate first within 1310-1330


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