Wednesday, August 17, 2011

Fkli wrap....scaling higher tomorrow



Regional mixed in AM but weaker tone in PM after EU opens -1% amid fear of fresh tax on financials transactions. This drags HS off highs near +1% to flat b4 closing with +0.5% gains. Djfuts stays within 0 to -50 range today.

Fbm manages to keep its head above 1500 in a quiet day while fkli remains cautious but fends off yesterday’s bearish tone and stays in technically +ve zone. Both trade within Tue’s range.

A strong opening tomorrow could provide the impetus towards 1510+. Upward bias if fbm >1497.and above 7SMAs.

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