Tuesday, March 29, 2011

Morning start....fkli soft 1510-15 fcpo weak 3250-60

DJ/Europe mostly flat, no directions, weigh by Japan's nuclear concerns but seen upbeat on corporate and job results. 8.30 DJ futs +9. Regional soft, near flat except NK -1%. Commodity mostly lower, -1%. FKLI tough day for bulls. 1500-1520. Defensive 1510 in early trades. Upside is lowered from 20 to 15. Bearish if fbm below 15. FCPO SO -1%. Back to recent lower ranges. Fcpo seen start in -ve zone, below 3280, but will bears make fresh attack under 3250, targeting 3200 today ?.

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