Tuesday, May 31, 2011

Fcpo wrap...extending Mon's toppish sentiment


Equity bullish tone only provides a quick fix in early PM. But fails to find storng footing after a 2-day of toppish-ness around 3450-60 Selling continues….

While CO strong, the rest commodity mostly seesaws . SO moves within +0.1% to -0.1%.

A closing under 3400 is not good, danger of shifting back towards 3300-3400 range. At moment mkt remains in uptrend zone. A tug of war in the coming days, sideways before the next big move.

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