Forex Blog by Greg Secker

The DOW fell at the open on Friday down near to the 12500 support level closing the session down 246 points. Watch the 12500 level for a break or bounce. The S&P fell 19 points and the NASDAQ fell 48 points. The FTSE, writes Greg, 100 opened higher but could not hold on to the gains and fell during the session down to the 6150 level where it found some support to close the session down 20 points at 6202. Futures – DOW is called up 25 points, FTSE is called down 20 points. Oil has fell back and is trading at $93.12 a barrel and gold continues to trade at new all time highs as it breaks the $900 level currently trading at $900.70.

After a drop at the open the DOW rallied to the 12900 level before falling back at the close ending the session up 117 points. The S&P added 11 points and the NASDAQ added 14 points as they also rallied during the session. The FTSE, writes Greg, 100 gapped higher at the open but following the rate decision at midday the index fell to the close ending down 50 points and closing lower than the low set in Dec. Futures – DOW is called down 130 points following news over night about more sub prime losses from Merrill Lynch, FTSE is called flat. Oil is trading at $94.40 a barrel and gold is trading at new highs at $896.30.

The DOW fell to 12500, which provided support back in Aug 07, where it found support again and rallied to the close ending the session up 146 points. A break of this leave could lead to a much larger decline. The S&P added 18 points and the NASDAQ added 34 points as they also rallied to the close. The FTSE, writes Greg, 100 had a big gap down at the open and fell to the 6250 level where it found some support but still closed the session down 83 points. Futures – DOW is called down 45 points, FTSE is called up 25 points. Oil is trading at $95.56 a barrel and gold at $879.60. At midday today the Bank of England announces the last interest rate decision.

The DOW ended the session at the lows of the day down 238 points after getting the downside break form the neck line of the head and shoulders pattern. The S&P also go a downside break form its long term trend line closing the session down 26 points, the NASDAQ fell 59 points. The FTSE, writes Greg, 100 slowly climbed during the session before running into resistance at 6400 and fell to the close finishing the session up 20 points leaving a high test reversal bar for yesterday. Futures – DOW is called up 60 points, FTSE is called down 55 points. Oil is trading at $96.66 a barrel and gold is trading at new highs at $891.10 as investors look for a safer place to invest their money.