Morning start...fkli strong 1533-35 fcpo strong 3900-10

-slow but firmer tone across the board during CNY holidays.

-Pricing in, NK+1% on M&A talk in the steel industry, DJ +50, on earnings and lower unemployment data but cap by Egypt chaos and slow payroll data, Europe +1% . Commodity just a tad higher, off highs as stronger US$ amid good equity performance while foreign players shun US bond

8.15
-DJ futs -9. Regional strong. NK +1%. KOS +1.5%. CO -1%

FKLI
-incentive for follow through buying, targeting 40 to 50 as weekly target. Upward bias if fkli stays above 1520 this week.


FCPO
-SO +0.7%, Another chance to set fresh multi years record. 3950 looks toppish at the current SO lvl. Below 3890 today would set pullback towards 7SMA first after recent strong gains.