A preclosing 4p gains pushed FBM back to +ve territory..led by AXIATA. The only ONE +ve today ? Regional red but off lows, 1% to 3%. Europe seesaws, -1% but DJ futs +30 both in late Asian hours.Definitely outperformed peers on the dwside and coupled with better-than-expected bounce strength. ( a bit overdone !!)
Fkli hit low at opening on stop loss selling, But mkt bounce off almost immediately, heading towards 1310 by 9am. It was up up the way thenafter as regional only “drop” but not plunge, and managed to close the gap at 1323.5 by AM session. In afternoon, the bet was for a bounce in US/Europe. Instead of watching football, DJ looks more interesting to watch tonight.
While intra-day looks super bullish, mkt is in a dw-ward bias zone and must at least cross back above 7SMA, which did bearish crossing today, to reverse its short term negativeness. Of course, bulls can be hopeful with the mkt still above 1320, its breakdw point. A breach will likey see 1290 as bottom target.
While intra-day looks super bullish, mkt is in a dw-ward bias zone and must at least cross back above 7SMA, which did bearish crossing today, to reverse its short term negativeness. Of course, bulls can be hopeful with the mkt still above 1320, its breakdw point. A breach will likey see 1290 as bottom target.
No comments:
Post a Comment