Mkts turned lower today, un-impressed with Alcoa result. DJ futs -20 all day long. Europe -0.2% in late Asian hours.
HS ( -34/-0.2%) and SH (+32/+1%) produced early gains, then a big pullback in late AM then a big bounce in early PM.…generally no clear direction yet. Despite firmer regional tone in PM, fbm renewed day lows on TENAGA and AXIATA.
With such externals, fkli lack yest’s follow through from get-go and hit lower support lvl today.
The mkt is back to trading sell, below 1340, again but seen consolidating sideways for the next move up. Below 1330 is the next sell signal for fbm and fkli.
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