Morning Call by Greg Secker

Friday’s close saw the FTSE gain 63 points to finish at 4,233. Today with no major market moving news out today look to component news for the directional influence. The Dow traded down from the open on Friday, having reached the 8,500 level, the index then rallied back to 8,900 resistance, only to fail to the close to end the day just beneath 8,500 at 8,497 with a big loss of 338 points. Today look for tests at the 8,000 level and 8,900 resistance and a break through these could spark the next big move. With little news out today in America other than manufacturing figures at 1.30 pm component news will be the catalyst for moves. Oil is trading at $57.04 and Gold is currently at $742.50. That’s it for now, good trading and I will speak to you tomorrow.