Everywhere is red today except GOLD as the Greece crisis took to a new height after S&P dwgraded its bond rating to junk status....yield 20%! crazy! Regional -2% except SH, marginally lower. HS/NK -300.
Fbm/fkli saw big selling in the first hour, followed by a quick rebound back to 30 from lows 20, and stayed intra-buy, 30-35 for most of the day. However, selling in fkli reemerged after Europe extends losses in early trading by another 1%, dragging Dj futs along from +20 to -20. Fbm did not respond.
Technically, a sell bias but not too sure of a short term dw trend yet. Maybe so if mkt stays soft tomorrow, then a new 1300-1330 trading range in the coming days. At mom, Fbm tech outlook is not all that bad, still above 31 SMA or 1330.
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