Monday, May 09, 2011

Fkli wrap....no fresh leg dw yet...bounce tone






Regional mostly higher except NK, taking cue from a strong DJ futs +50. Firmer commodity and strong US job data over the wkend spark buyback after last week slump. Fbm, however, sluggish before picking up some momentum in PM.

Fkli more upbeat, on HS +1% gains, near par after wide discount recently. Bounce tone if fbm > 1515 but dw trend remains as it stays under short term dwtrend line. Danger of fresh leg dw if last week’s low is breached

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