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Markets await US interest rate decision

This week is  likley to be all about the  FOMC  meeting  and their decision on US interest rates, Wall Street finished lower on Friday by some 30 points  taking us back below the 11,000 level , In London we finished the session up just 8 points.

Asian Markets start the week in muted  form ahead of the key rate decision , Corporate news is a bit thin this morning though Arcelor has finally given in to the attentions of Mittal Steel.

Technincaly in the FTSE  the  promise of the mid week rally  failed to appear and once again we  are back below  key resiatance at 5719 , We need the market to give us a reason to change from our bearish stance - The early call for London is up 20  so we may see an early test of these levels .

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