Morning Call by Greg Secker

Yesterday the Dow Jones finished up just 15 points at 11,532 having travelled sideways in a range just over 150 points. The index has a host of economic indicators reported today and these start at 1.15 pm, with the bulk at 1.30 pm, British Summer Time, so look for a break down from 11,400 should the news be negative and up through the 11,600 level and the 50 ema if they are better than expected. The FTSE closed the day down 121 points from the previous days close, or 2.15 percent, at 5,499 having fallen significantly at the open and then traded within a relatively narrow 60 point channel for the majority of the session. Today, look for response to the Bank of England interest rate decision out at noon (BST), the European rate decision under an hour later and the reaction to the Dow’s response to its own raft of reports. Oil is currently at $109.33 and Gold is at $805.00. Have a great trading day and I will speak with you tomorrow.