Tuesday, August 03, 2010

Morning start..fkli strong 1370+ fcpo storng 2580+

DJ +200, extending last month's gains, as investors welcomed strong earnings from European banks. Europe near +3%.

8.15 : DJ futs -3. Regional near +1% . NK +2%. Commodity mostly higher but activities seen limited to stocks. CO +3%

fkli : anticapating fbm making a 2nd attempt at 70, fkli would aim for 70-74 range today. Uptrend momentum will continue as long as fbm > 1365. Above 1370 is bullish tone, not discounting a keenjerk reaction towards 80.

fcpo : SO +0.3%, taking a break after a rally yesterday. Enough to keep fcpo above 2570 , maintaning its +ve stance for a ride towards 2600. A breach of 2570 could lead fcpo to a pullback towards 2550.

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