Monday, July 19, 2010

Morning gap-dw....fkli weak 1330-34 fcpo weak 2420

DJ erased week's gains on Fri amid below estimates financials revenue, despite beating earnings estimates and weak consumer data.

8.08 : dj futs -13. Regional -1%. NK clsed for holiday. Commodity weaker tone on strong $. CO and GOLD -1.5%.

fkli : back to 1330 support. resistance is either lower to 37 or 33 with downside risk greater if fbm < 1334. fkli seen tug-of-war at lower 30s with next support at 23.

fcpo : SO -1% pulling fcpo back to 2420-30 ranges. fcpo is seen a trading sell if < 2440. If 2417 support breaks, first round of profit take sell is expected towards 2380-2400 zone before bargains support.

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