20091110 1328 FKLI Mid Day Hourly Chart Study.

Due to DJIA overnight surged, FKLI gap up 6.5 points higher to opened at 1279.5 and hit another new high at 1281.5 follow by profit taking activities to closed unchanged at 1273. The last hourly candle still holding up above the middle Bollinger band = uptrend still intact. However, Bollinger band width started to turned narrowing = market tends to stay side way range bound to digest the upward surged this morning. The profit taking activities intiated also pressed MACD Histrogram lower below the zero line. A mild consolidation are like to take place in the afternoon session but market can resume its upward movement anytime.