Friday, June 03, 2011

Fkli wrap...consolidating in early June....no fresh high yet




Internal momentum on financials continues to keep fbm steady. But limited upside amid a mixed regional tone and cautious ahead of US May’s job data out tonight. DJ futs -20 but Europe firmer, +0.5% on report that Greece will get fresh $$$.


While it fails to extend May's bullish ending tone, year-high target, near 80, remains intact if mkt stays above 55 next week. Otherwise mkt may drag back towards its uptrend support line, especially with a closing below 7SMA in early part of the week

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