-strong externals fail to inspire fbm, still wounding from Thus’s selloff. HS +400, Europe +0.5%, DJ futs +40.
-Buying interest in Mar10 contract remains weak. Plus, Feb’s roll activites seem very lopsided….mostly short rolls. Kwailows turn bearish and/or bulls let Feb10 contract to expire.
-today’s bounce is meaningless for bulls as mkt remains under 1500. With fbm at lows, mkt is vulnerable to another selloff next week, if 1480 support fails, confirming 1450-1500 range play. Below 1500 is bearish.
-Buying interest in Mar10 contract remains weak. Plus, Feb’s roll activites seem very lopsided….mostly short rolls. Kwailows turn bearish and/or bulls let Feb10 contract to expire.
-today’s bounce is meaningless for bulls as mkt remains under 1500. With fbm at lows, mkt is vulnerable to another selloff next week, if 1480 support fails, confirming 1450-1500 range play. Below 1500 is bearish.
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