Monday, November 01, 2010

Morning start...fkli firm 1505-10 fcpo strong 3070-85

DJ and Europe flat on the last day of a strong Oct....awaiting Fed QE details Tue/Wed, Oct job data Fri.

8.30 : DJ futs +50 but regional mixed, NK -0.5% on strong yen KOS +0.3%. Commodity mostly higher, +0.5% on weak US$.

fkli : strong expectation to test fresh high, 1510+. Immediate resistance is raised to 1505, followed by 1500.

fcpo : SO +1%, enough to put fcpo back to last week's high mark, reinforcing a 3050-3010 trading range. But a breakout above 3100 ?. Above 3085 is fresh bullish tone.

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