Wall street "turned tail " last night to finish almost 100 points lower, it seems that nerves got the better of US investors ahead of key inflation.
The Asian markets followed suit and the Nikkei is down some 614 points its biggest loss of recent times - Dax futures provide an insight into how European markets are likely to trade as we write they are down 110 points from their levels at London's close.
The early call for London is down some 68 points once again we focus on key supports found at 5566.5, 5534.5 & 5506 respectively. The first of these levels represents trend support - should we see the last of these fail we could be headed back to 5244 / 5132.5. Needless to say we remain bearish.