FKLI 21th July 2009

As yesterday,
no position established.

Result:
2 safe, 5 losses, 1 win

FKLI Outlook:
Stopped at 1146.
Target at 1145.
if not break new high. Market might have severe correction.
Aim to short.

Strategy,
If FKLI gap up, >1161, long, but loss at previous 2 bar 15 minutes low.
If FKLI <1145, short, cut loss at hourly bar high, not closing.
If FKLI gap down, <1138 on 15 minute closing, short, cut loss at previous 2 bar 15minute high.

If FKLI 1146 < x < 1161, stay out.

Monitor,
Dow Jones closing

Monday Leading indicators will be reported at 10:00.

Tuesday FED chairman Bernanke gives monetary policy testimony to the Congress.

Wednesday FED chairman Bernanke gives monetary policy testimony to the Senate.

Thursday FED governor Tarullo gives banking regulatory testimony to the Senate.
Weekly Jobless claims are released, along with Existing home sales and the UofM Consumer sentiment reading

Nikkei Opening.

Sunday FED chairman Bernanke is hosting a town hall event at the Kansas City FED.