Fbm produced another strong day – financials lead again. Strong week, strong closing – 6 day winning streak. Regional mostly weaker tone, within -1%. NK worst on prospect of stronger yen, affecting exporters bottom line. Europe/DJ futs cautious, initially recovery mode from overnight slump but dip back near flat line in late Asian trading hours.Like yesterday, fkli look “force” at the top end. Players getting cautious as mkt approaches 1400, all the way from 1340. Bullish tone but positive closing. Critical support is raised to 1380s, also the 7SMA.
After 1400, is 1440-50 band but do not foresee this happening till a pullback. More like second round run-up. We are still in the first round.
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