Cautious AM but firmer PM on report that EU has reached a deal for a fresh bailout for Greece. Regional recover some of AM losses but in a mostly range bound day, within -0.5% to +0.5%.
EU/DJfuts, however erase early gains after about 30mins into trading in PM and stay near flat line in late Asian hours. Banks up but telcos, like ERICSSON, tumble on weak earnings.
Fbm.fkli play defensive in AM – defending 60 b4 climbing higher in PM. Like yesterday, rebound mode, tight range and in neutral zone. And likely the same case tomorrow!
Above 60 is upward correction but strong resistance around 70 or 7SMA ahead of weekend. No major sell signal if mkt stays above 60.
No comments:
Post a Comment