Wow, seems like there are traders that choose to cash out and walk smiling all the way to the bank. FKLI closed down 4 points lower to closed at 1267 for the first half session today. The panic sell down that push the market down to the low of 1262 apparently triggered lots of protective stops loss order. Chart wise, FKLI is trading below mid Bollinger Band telling us selling pressured the market into negative sentiment for the time being. Bollinger Band width narrowing will temporary holds the market into side way range bound. MACD Histrogram continue to fall telling us that seller won the morning battle. Overall market is still in an uptrend market with healthy correction.
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