Morning Call by Greg Secker

The Dow Jones consolidated early in the day fallowed by selling which was reversed and then retraced to finish down 161 points at 10,854. With only low level market moving news out today reporting U.S. mortgage figures, look to the 10,800 level for early direction and if the downside is breached and held look to 10,650 for initial support then further to 10,400 should confidence continue to leak on the back of further doubts over the bailout package and a weakening dollar. At home the FTSE closed down 100 points at 5,136 starting with a drop at the open and ending with a rally. Today look for a break of the 5,100 level to indicate further downward movement. Oil is currently at $106.87 and Gold at $889.70. Have a great day and I will speak with you tomorrow.