Morning Call by Greg Secker

The FTSE closed down 100 points at 4,132 yesterday, basically trailing down with some initial directional indecision granted by the Dow’s movements from the open the index then traded sideways to an oscillation in the last two hours of the session. Today with Consumer Price Index reports along with the Retail Price Index Figures released at 9.30 am Greenwich Mean Time look to the break of 4,100 on the downside and 4,300 level above the 20 moving average for decisive directional movement. The Dow Jones showed early weakness in a continuation of Friday’s fall from the that day’s high for the first hour of trading and then rallied strongly over 300 points to then oscillate down to a final 150 point drop in the last 15 minutes. All wrought from further recession worries. Today with the Producer Price Index reports released at 1.30 pm and Capital Flow figures out at 2 pm look for an interesting pre-market open and a continuation of the current downward streak should the news be worse than expected. Oil is currently at $54.95 and Gold is at $724.00. That’s it for now, good trading and I will speak with you tomorrow.