Fkli wrap....40 heavy again..depsite fbm "tongkat ali" push

For most, “Overdone” sentiment prompted selling today. Profit take sell or sell on rebound ?..most likely the former unless a fresh default news pops up. Volatility is expected as the dust yet to settle down.

Regional +ve start but gave up gains and mixed by AM session and extends losses in PM
after Europe seen -1% and DJ futs -100 in late Asian hours. SH/HS near -2% after China Apr data points to rising property price….re-igniting fears of tightening policy.

Fkli attempted 40 on DJ overnight factor but faced strong resistance on –ve external after 10pm, taking a –ve bias 30-40 range instead despite fbm outperforming action from get go. Fbm opened –ve near 32 but instantly did 37 and strong throughout the day, mostly 37-40 range.

Technically, not much, in-and-out of SMAs, difficult to identify mkt short term trend. A rough guidelines would be 1330 mark. But fbm looks pretty strong so unless external worsens, more likely to see gains.