Friday, April 01, 2011

Morning start...fkli firm 40-45 fcpo strong 3370+

DJ -30, in small moves ahead of job data. Very strong 1Q despite geopolitical turmoil thanks to loose monetary policy and anticipation of recovery in the job mkt. 8.15 DJ futs +30. Regional mixed, flat, near +/- 0.2%. Commodity strong run on the last day of 1Q, +2%. FKLI -profit take pressure seen but maintains +ve tone, above 36. But a closing under 40 would see pullback first towards 7SMA b4 attempting 80 lvl. FCPO SO +2% on USDA bullish inventory data for gains product. Jump start and 3350-3400 range. 3400 resistance not easy to break this week, tug of war likely. Above 3340 is bullish closing.

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