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The market took out 1,168 target with ease, looks like it may be testing its nest target of 1,250 soon. But the daily chart now seems to be a bit over stretched as prices have been stuck in a minor range. The MACD seems to be flattening out and the Stochastic has again dipped its head. I would be a bit more cautious as the ADX is now above both the D+ and D- which may be telling us this market is a bit overbought.
You should place your stop at 1156. And if you want to sell this market, then place your stop at 1179 as I am not too sure this market's bull is finished yet.
Again the weekly chart is still has nothing to warn us the bull is ending. Price is managed to stay above the upper Bollinger Band, te MACD continues to rise and most powerful indicator of them all is the rising ADX which is now above 30's. This is confirming that a powerful trend is in making. There are so many stocks (mostly 2nd/3rd liners) getting ready to do their powerful wave 3 bull move, so I think that should be complimenting the FKLI's upside.
So summarily, the short term may be overbought and retrace or consolidate but the intermediate term is still bullish.
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