Morning Call by Greg Secker

Friday’s session on the FTSE saw the index range within a 60 point channel for almost the entire day with a very late rally in the closing 15 minutes delivering most of the days 61 point gain to find its close at 4,288. Today with some low level news out at 9.30 am look to component news and influence from America to for any decisive directional moves. The Dow Jones on Friday finished up a modest 103 points at 8,829 having closed three hours early but in that delivered the biggest 5 day rally on the index for a staggering 75 years. Today with relatively high importance manufacturing news out today at 3 pm look at that time for any decisive change to the current Bull intention for the market. Oil is currently trading at $53.30 but there are fears that Opec has not done enough to prevent a repeat of the slump a decade ago as prices then slid to a low in 1998 of $10.35. Gold is at $812.80. That’s it for now, good trading and I will speak with you tomorrow.