Wednesday, August 04, 2010

Fkli wrap....survive 60 support...remains in -ve territory




Tight lower range, defending support lvl, no extension of fresh moves today.
AM weak, PM strong thanks to HS gains, helping fbm.fkli to survive above 1360. Europe/DJ losses limited fkli’s premium. Europe -1%. DJ futs -30. Most mkts are in a wait-n-see stage with some pullback after Mon’s gains.

While toppish mkt working hard to stay above 60 awaiting the next incentives to break higher again. Still, negative tone if < 65. Above 65, is a breakout buy again ottherwise trading sell targeting 52-53.


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