Fbm.fkli hit fresh highs in early trades on DJ overnight gains then turned for the worst. Fbm momentum was hampered by GENTING selloff, earnings fears after SANDS opening.Fbm miss at 50 was the first bad sign, pulling fkli under 50 for a 45-50 range for most AM. PM was mostly 40-45 play as selling continued that saw Europe stock -1% in late Asian hours. Regional mixed, softer amid weaker commodity price.
Technically, a bit setback for bulls, from potentially bullish to –ve bias, < 1340-43.5, expect some volatility again on tug of war as near short term SMAs the mkt trying to figure out its direction. Fbm remains +ve bias.
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