The Dow opened yesterday with early strength, but was immediately sold to below the 11,600 level. The index dropped back toward the 11,400 level, but eventually rallied strongly towards the Close, ending the day 186 point up. There are indications that if the breakout occurs at either the top of 11,700 of the low of 11,200 then the resulting move could be significantly more than the daily gains and losses of late. The NASDAQ and S&P are both showing distinct signs of a similar breakout which will be a catalyst to the Dow. Today with the USA GDP announcement, out at 1.30pm (British Summer Time) a good day for decisive moves. The FTSE, writes Greg, closed 101 point up also; at 5,420, so today early gains could be nullified by reversals caused if there is a negative response to the American news. Oil is $126.13 Gold $920.40. Have a good day Trading and speak to you tomorrow
