Morning Call by Greg Secker

The DOW rallied at the open but ran into resistance around the 12700 level pulling back from the highs to close the day up 52 points. The S&P pushed higher but ran into the 200 ema and ended the day up 7 points, the NASDAQ closed up 21 points. The FTSE 100 continues to build out its consolidation around the 50 and 200 ema’s ending the session down 1 point, wait for a break of this range for direction. Futures - DOW is called down 20 points, FTSE is called up 10 points. Oil has pulled back from the highs and is currently trading at $126.33 a barrel and gold at $881.60