Friday, December 17, 2010

Morning start...fkli firm 1495-97 fcpo weak 3570-80

DJ +40, with two of the three major indexes hitting their highest levels since September 2008. Investors looked on the brighter side of mixed reports on housing and jobs that came out before the opening bell...CNN. Europe +0.2%.

8.30 " DJ futs +1. Regional flat, +0.1%. commodity lower tone but seems quiet, -0.5%.

fkli : rebound or defensive again ? depends on fbm. -ve if fbm <1500, targeting 1490. 1500-07 range if fbm can take out 1500 resistance. fkli bearish today if 93 support breaks.

fcpo : SO -0.5%. fcpo breakdown riks towards 3500 is great if it trades under 3570. only a cross back above 3600 would keep bears at the sidelines.

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