Losses were seen in all sectors however the actual catalyst remains a mystery. The market did stage a recovery of sorts however closed well off it's open & there has been little respite overnight with global equities drifting off as weak Retail Sales & inflation data saw risk off the table – adding to the poor sentiment was Euro zone weakness linked to the upcoming Greek election. Our market has shed some 15 ticks to close at 4050 – just off session lows, as mentioned yesterday a break here indicates further downside – last week's low back in focus. We have been in a holding pattern for more than a week however given the upcoming election it appears difficult to see where any sustained strength will come from, looking to fade any significant strength is therefore recommended.
CASH CLOSE 4063.7 FAIR VALUE + 2.2
EMINI 1306, DOW -77, GOLD + $4.3
SYCOM CLOSE: 4051 HIGH: 4078 LOW: 4045
RESISTANCE 4065, 4070/71, 4084*, 4092, 4098, 4105
SUPPORT 4040, 4025/26**, 4012, 4004, 3995, 3980/88***