Tuesday, July 26, 2011

Morning start...fkli firm 1558-1560 fcpo firm 3090-3100

DK -80 as "projected" by Dj futs in late Asian hours. EU near- 0.5%, small moves despite US debt gridlock, with hopes for a solution by this week.

Everything seems flat but rebound mode, +0.2%++, from Mon's 1% selloff for a lack of big reaction to US debt pblm in US/EU overnight

fkli steady in initial trading, 55-60 but dwward bias tone till fbm regains 60. And fresh -ves if fbm <58. Chance for upper 60-65 if regional strong.

fcpo SO -0.2%. no upside incentives. Tech weakness after Mon's closing will weigh on mkt tone, below 3080 is fresh -ves. To reverse -ve sentiment, mkt must regain 3115-20 band.

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