FKLI -8/6/09 - Still remain cautious

The weekly chart continues to look positive since the ADX has been rising confirming a trend in in progress and we saw a 21 points rise. The MACD is still rising and stays above its zero signal line while prices stay above the upper Bollinger Band. So everything is confirming a bull is still intact.


While on the daily chart, again it is as like last week's, things are not really that encouraging. The ADX has been falling or turn ing flat, so we cannot find any strong directional trend in this market. The bearish divergence found at the MACD and prices is still there. So I would continue to be cautious, be ready to take off your profit. Place stop at 1,050.