FKLI 15th July 2009

As yesterday,
short position turn losses again.
loss 6 points / lot

Result:
2 safe, 4 losses, 1win

For FKLI,
Highly possible FKLI already reverse to uptrend
critical support at 1068.5
Daily chart seems form a large symmetric triangle.
CI break 1072 during trading. show bullish sign.

Strategy:
Want to long FKLI.

If FKLI tomorrow > 1082.5 on opening, wait for better price.
If FKLI tomorrow < 1081.5 on opening, support at 1068. long on pull back. Prefered price at 1071.5 and 1068.

If FKLI break 1094. bull trend is confirmed. but still prefer to wait for better price.

If FKLI break 1068.5, market will seen as sideways.

If FKLI break 1052. bear trend continue.

Monitor.
Wednesday have CPI, the Empire index, Industrial production and the FOMC minutes.

Thursday have weekly Jobless claims and the Philly FED.

Friday Options expiration , Housing starts and Building permits will be released.

Nikkei morning opening.