Morning Review

Good Morning,

DJ +38 @ 13245

Mixed day with no clear leads. Short term trend still bearish, currently in console range pending a break. Mid term support at 12700 - 13000. Similiar to other indexes, all are trading near mid term support leading to the question of who, the bulls or the bears, will win this year end battle.

Nikkei -33 @14998

Weak and trying to test the short term support region. Bears will strengthen if 14950 is convincingly taken out. High chance of a break downwards in view of early weakness. Bears to test mid term support soon.

DJ fut +52

News:

US
Treasury bills yield fall on speculation subprime woes to persisit

EU
European bonds gain as credit market turmoil, slowing growth stroke demand
Borrowing costs decline as global credit shortage ease

Asia
Japan's government bonds may rise on concern subprime losses will deepen

Comm
Creude oil trades near $91 on forecast mild weather, weaker US economy
Gold, silver fut decline in NY as dollar rebound against euro
Copper gain as price slumps spurs buying in China

Curr
Dollar may extend gains on Euro, pound on nov inflation data
China raises benchmark rate to 7.47% to temper inflation
Pound falls against EU, US$ on view BOE will keep cutting main rates
Australian dollar set for decline as stocks drop on subprime
New zealand growth slows as spending cools on rate increases