<strong>JOSHUA RAYMOND CITY INDEX<br /></strong><br />4,600. The third quarter could help lift the markets if data all comes in line and momentum in terms of growth of companies’ profitability. I see economic recovery in mid-2010 and equity markets tend to react about six to eight months in advance.<br /><br /><strong>MANOJ LADWA ETX CAPITAL<br /></strong><br />4,000. We’ll shoot to the downside in the next few months or so to 3,500. It’s all been a bit commodity-led and crude oil looks due for a drop. There’ll be a pull back from the 3,500 level – buyers will come back into the market if it’s oversold.<br /><strong><br />ANGUS CAMPBELL CAPITAL SPREADS</strong><br /><br />4,250, which is currently where we are now. We could very easily carry on in the sideways fashion that we’ve been going over the last couple of months. But at the moment market action is in favour of the bears so it is looking relatively weak as we move into the second half.