Thursday, February 24, 2011

Fkli wrap...likely new dwtrend..... next week...


-major selloff in PM, as mkts tumble across the board after CO hit above US$100 in Asian. SH muted +0.5% but HS -300/-1% in PM after a flattish AM.. More selling after Europe opens near -1%. DJ futs -50

- externals big losses in PM cause selling that later trigger tech sell under 1500. Looking very bleak for bulls as it looks like 1450-1500 range next week.
-1500 looks toppish but still hope of 1480-1500 if no immediate breakdw at the opening tomorrow

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