Friday, August 20, 2010

Morning start...fkli weak 87-90 fcpo weak 2570-2600

Making the first big move this week, Dj and Europe slump, almost -2%. DJ -144, Investors were hit with a triple whammy of bad economic news Thursday: manufacturing still stinks, more people are jobless...CNN

8.13 : Dj futs +7. NK the biggest loser, -150/-1.6% . Aust -1% Kos -0.5%. Commodity lower. CO -1.5%.

fkli : how strong is support ? is the startign theme. fkli is seen taking 85-90 range with expectation of a mild pullback in fbm back udner 90. fkli bulls are unlikely to give up till fbm < 85, targeting a full scale of correction towards 7SMA around 75s

fcpo : SO -0.4% . no encouragement for fcpo bulls but fcpo seen ranging within yesterday's range. Intra-day +ve if > 2570 but enough power to break 2600 ?

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