Friday, July 16, 2010

Morning z z z ...fkli firm 1335-37 fcpo firm 2320-40

DJ -7 on weaker job data but financial gains limited losses. JP Morgan beat earnings expectation. Europe -1% on China concerns.

8.10 : DJ futs +18. Regional lower tone, within 0.5%, lead by NK on stronger yen. Dollar weak across the board but commodity looks asleep. Firmer but no move, +0.1%.

fkli : no strong external to help bulls attempt to push it higher. like yesterday defensive play but dw seen limited on bargain. trading range likely remain the same , lower band of 30-40 with dwside risk towards 25 if fbm < 1331.

fcpo : taking a breather but still in bulls control, SO +0.1%. time for correction ? yes if fpco trades in -ve territory. Otherwise a breakout above 2450 could spark another mini run, targeting 2500.

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