The DOW traded higher at the open and consolidated during the day around the 13500 level until the ½ point interest rate cut announcement causing the DOW to surge through this level and close the session up 335 points, the biggest one day move for some time. The DOW closed the session at 13739 above the old resistance level of 13700. The S&P broke out of its consolidation and through the 1500 level to close up 43 points at 1519. The NASDAQ added 70 points and set a new high in the current up trend. The FTSE, writes Greg Secker, 100 added 100 points after the banks received some news from the Bank of England to help confidence. But the FTSE 250 only added 57 points. Futures – DOW is called up 15 points, FTSE is called up 95 points. Oil is trade at new highs at $82.10 a barrel and gold is trading at a 16 month high at $725. With the large gap up expected at the open will be holding off any new pre market trades. 

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