Thursday, June 16, 2011

Morning start...fkli weak 1544-47 fcpo soft 3250-60

DJ -180, EU -1%. News that European officials failed to reach an agreement on bailing out Greece "continues to drive fear and cues the overall downtrend in the market

8.30 : Regional -1%. DJ futs +4. Commodity mostly lower. CO tumbles -3.5%.

FKLI likely to see 40-50 play from 45-45 yesterday. Alternating from week's high to week's low, unlikely to see a fresh breakdown.

FCPO SO +0.1% , but cautious amid poor equity sentiment. 3240-3280 neutral start. Dwward risk, below 3240 is bearish, targeting 3200+

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