Wednesday, April 20, 2011

Fkli wrap...from support to testing resistance



The dwgrading of US debt fails to dent DJ mode overnight. Therefore regional on come-back mode after Tue’s selloff. Strong tech earnings and commodity prices lead mkt higher across the board today. Europe near +2%. Fkli takes premium stance on strong external while fbm catching up. Can clear all short term SMAs, near 40s this week ? Maybe not this week but at least already escape fear of a breakdw towards 1500. Sideways and upward bias if above 20.

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