Yesterday, notes Mr Secker, the Dow Jones index closed down at 11,642 below both the 50 moving average and the 11,700 mark. Whilst the bears had the day the channel is still in play and with retail sales reports at 1.30pm (British Summer Time) projected to move little from last month – a spot of bullishness is all that will be needed to ease the direction back above the current key level. The FTSE, writes Greg Secker, ended at 5534 down seven points, having broken through the 50 ema over the lunchtime period, but then gradually fell back to close below it. Today the sustained break of this important resistance level is the aim but with only minor market moving news out at 9.30 BST, indications are that there is little to carry it through and hold it in the short term. Have a great day of disciplined trading and I will talk to you tomorrow.

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