Morning Call by Greg Secker

Yesterday the FTSE closed at 4,169 with a loss of only 12 points having traded in a 120 point channel throughout the session. With no Market moving news out on this side of the pond today’s movements are likely to be linked very strongly to the Dow’s Thursday outing as the Industrial Average finished up yesterday. After a continuation of the weakness that has been the hallmark of this week the index then bounced from beneath the 8,000 level to rally over 870 points to close at 8,835. This massive move occurred after the FTSE’s close so watch for significant reaction to this at Friday’s opening and then expect a round of end of week position profit taking and selling off to take advantage of the high’s of yesterday. There is also a raft of news out from 1.30 pm onwards through to 3pm including the Advanced Retail Sales. Oil is still below $60 at $59.55 and Gold is now at $735.40 gaining back the previous days losses. That’s it for now, have a great day’s trading a wonderful weekend and I will speak with you on Monday.