Friday, March 11, 2011

Fkli wrap...bulls shaken by Japan "jishin"


-plenty of –ve news towards the end of the week. Libya, China deficit, Japan GDP dwgrades , Europe Debt dwgrades, Saudi unrest and topping it off with Japan huge earthquake…very dizzy!!

-with sudden change of external tone, EPF seems powerless, give up 1500 in PM and likely looking at 1460-70 lvl to defend....near 4 mth lows lvl.
-Fkli selltops trigger from 1489-1482 in PM in a split second move but mostly recovery thereafter, In fact, closing at rebound-high.

- technically bearish if under 1500 , targeting 1460+. But can expect some rebound towards 1510-20 first if mkt start start firm Mon.

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