Yesterday, notes Mr Secker, the Dow moved to end 150 points up on the day, the suggested blip during the afternoon materialised in a 40 point move in 2 minutes, to be immediately reversed, on the back of news that Pending Homes Sales in the US was down by nearly 5% (nearly 60% lower than forecasts suggested) Despite the positive overall movement the previously mentioned consolidation continues with little reason to pinpoint a potential breakout. With no major news and just one very minor report regarding Mortgage Applications compiled by the MBA today at noon (British Summer Time) apart from watching the potential blip at that point, the indications are that another relatively calm day will be offered.  The FTSE closed only 60 points down on the close of the previous day but, with the upward movement of the Dow towards its close, has left the FTSE called up at the open. With an expectation of a further trail down after the open, followed by a retracement on the news at 8.30 (BST), the possibility of then hitting the recent resistance at the 5520 mark is high.  The NASDAQ and S&P are still and will continue on in their consolidation ranges. Finally Oil is trading at $136.700 per barrel and Gold is trading at $922.500

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