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Fears over the escalating conflict on the Israeli Lebanese border pushed the price of oil  to $78 per barrel, a new record. 

Equity markets took flight with both the FTSE and the Dow registering triple digit losses across the session.  London finished down 95 points but the Dow continued its sell of to close 166 points lower  and back below 11000.  Asian markets have also weakened the early call for London is for further weakness and we a re called down  another 35 points.

Technically  we are back on the bear tack with every chance of key support at 5714  being tested this morning  through here we can look for  5640. 

We will stay in bear mode until we can get back above 5800 and more importantly 5843

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