Monday, July 18, 2011

Fcpo wrap....setback for bulls, last week's effort wasted...


A +ve and firm start but a lack of fresh highs and SO sharp reversal, from +0.5% to -1%, in the second half of AM session turn bears into hero today. Tech breakdw under 3100-3110.

With no breakout higher, mkt is back to sideways range, albeit in bears favor again as 3100 support fails. It looks like a non-trending week again, 3010-3150. Below 3070 is bad news for bulls tomorrow.

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