Tuesday, March 22, 2011

Morning start...fkli strong 1515-16 fcpo soft 3410-20

DJ +170, up 3rd day. U.S. stocks rallied for a third day on Monday, as fears about Japan's damaged nuclear plants eased and investors cheered a huge merger in the telecommunications industry. Europe +2%.

8.20
DJ futs -10. regional x-japan +1%. NK +3%, catching up with DJ 2-day big gains. Commodity lower tone, -0.5%.

FKLI
-seen 1510-1520 range, taking the upper band once fbm crosses above 1510. Above 25-30 is seen as kneejerk today.

FCPO
-SO -0.3%. defensive first but unlikely to dent bulls sentiment, tug of war at 3400 expected. 3380-3450 range likely.

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