Greg Secker – Global Market Update

The DOW fell at the open but put is a small rally at the end of the session to close the day down 106 points. The S&P closed down 4 points and the NASDAQ lost 5 points. The FTSE, writes Greg Secker, 100 fell at the open but recovered during the session to end the day up 11 points. There are no new trades for today.

The DOW fell at the open after a report showed that US consumer sentiment sunk to its lowest in 16 years in June, but the index found some support at 11720 which is previous lows where it bounced back up but still closed the session down 35 points. The S&P closed down 3 points and the NASDAQ fell 17 points. The FTSE, writes Greg Secker, 100 fell to the 5600 level which it tried to break a few times during the session closing the day down 32 points. Futures – DOW is called up 30 points, FTSE is called down 5 points. Oil is trading at £137.10 a barrel and gold at $891.20

The DOW had a sideways trading session yesterday ending the day flat. The S&P closed flat and the tech heavy NASDAQ closed down 20 points. The FTSE100 pushed higher helped by higher oil prices lifting the commodity stocks ending the session up 46 points. Futures – DOW is called up 20 points, FTSE is called up 15 points. Oil is trading at $137 a barrel and gold is trading at $888.30

The DOW broke to the downside of the consolidation on Friday as investors turned cautious on equities due to concerns about the outlook for U.S. banks and the impact of higher oil prices on consumers spending and inflation. The DOW ended the session down 220 points. The S&P fell 24 points and the NASDAQ lost 55 points. The FTSE, writes Greg Secker, 100 fell 86 points on Friday with banks among the top fallers following rumours of a profit warning from Merrill Lynch. Futures – DOW is called up 40 points, FTSE is called up 15 points. Oil is trading at $136.23 a barrel and gold at $907.80.

The DOW closed the day off session highs, UP 34 points and within the bearish consolidation pattern. Watch for a breakout of this consolidation for the next move. The S&P added 5 points, the NASDAQ gained 32 points. The FTSE, writes Greg Secker, 100 pushed higher in the morning following higher than expected retail sales data but fell back in the afternoon following weak US manufacturing data causing the index to close down 48 points in the session. Futures – DOW is called down 50 points, FTSE is called up 10 points. Oil fell $4 yesterday and is currently trading at $132.30 a barrel and gold at $902.20.

The DOW broke down through the 12075 level and traded down to the big number 12000 where is found some support to end the session down 131 points. The S&P closed down 13 points, the NASDAQ finished the day down 28 points. The FTSE, writes Greg Secker, 100 closed near session lows down 105 points, the biggest faller was Persimmon down 8% followed by London Stock Exchange down 7% and Next down over 5%. Futures – DOW is called down 30 points, FTSE is called up 5 points. Oil is trading at $135.89 a barrel and gold at $895.40.

The DOW pushed higher at the open but ran into resistance at the declining trend line causing the index to drop and close the session down 108 points, watch the previous lows at 12075 for continuation of the current down trend. The S&P close down 9 points and triggering a power play, the NASDAQ gapped higher at the open but closed the session down 17 points. The FTSE, writes Greg Secker, 100 pushed higher in the morning session following the CPI figures but could not hold on to the gains and fell in afternoon trading ending the session up 67 points. Futures – DOW is called up 25 points, FTSE is called down 14 points. Oil is trading at $133.44 a barrel and gold at $884.90.

The DOW had a sideways trading session yesterday ending the day down 38 points. The S&P closed flat and the NASDAQ gained 20 points. The FTSE, writes Greg Secker, 100 ended the day down 8 points as it finds some resistance off the trend line. Futures – DOW is called flat, FTSE is called up 5 points. Oil is trading at $134.40 a barrel and gold at $885.

The DOW rallied at the open on Friday ending the session up 165 points. The S&P added 20 points and the NASDAQ closed up 50 points. The FTSE, writes Greg Secker, 100 fell in the morning session where it rallied of the 5720 level to end the session up 12 points with a bullish low test reversal bar. Futures – DOW is called up 30 points, FTSE is called up 25 points. Oil is trading at $133.70 a barrel and gold at $873.

The DOW rallied 190 points at the open but could not hold on to the gains and fell all the way back to the opening price before putting in a small bounce to close the day up 57 points. The S&P closed up 4 points and the NASDAQ added 10 points. The FTSE, writes Greg Secker, 100 pushed higher during the session ending the day up 67 points. Futures – DOW is called flat and the FTSE is called down 30 points. Oil is trading at $136.80 a barrel and gold at $873.