Morning Call by Greg Secker

The FTSE closed 49 points up yesterday at 4,291 during a choppy session and made it the fourth up day in a row and that hasn’t happened since the end of August! Today with a bounce off the 20 ema, weekly position profit taking and the potential of later Bear movement on the Dow, impetuous may well be found to prevent a straight run of five. Yesterday on the Dow Jones index a gain of 169 points saw 9,180 by the close, after an irregular day’s trading with most of the session spent in a 200 point channel. Today a plethora of economic indicators are scheduled, starting with Personal Consumption indicators at 12.30 pm, on to The Michigan Confidence report at 2pm, (a key one with the proximity to Thanksgiving), and culminating with an address by Bernanke which, whilst ordinarily a minor market mover, in these turbulent current times strong reaction may ensue should any significant positive or negative assertions by interpreted by the market. Oil is trading at $65.58 and Gold is at $738.40. That’s it for the week, have a great day’s trading, a fabulous weekend and beware things that go bump in the night this evening!