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Weakness spread from Europe to America and onto Asia


Yesterday as North Korea's  Missile tests rattled the markets.  However any falls where relatively modest, although suggestion that the Koreans may fire more missiles will keep us on the edge of seats.

Aside from Sabre rattling in the Far East thoughts today turn to interest rates and the meetings of the UK MPC and European Central Bank, in both cases we are expecting rates to remain as they are.

Compared to other markets the FTSE held up quite well although the Bears probably had the better of the session.  The Bulls can take heart from the fact  that we remained well above key supports at 5800-05.   

Key resistance remains up  5909.5 this level is likely to prove test of the markets resolve in the near future - However we remain on a positive tack whilst we are above key supports.

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