My thoughts going into this week were as follows:

• The expected Santa rally is to continue this week and we should end the year on a bullish note.
• Daily chart shows the long bullish green candles from last week which propelled the FTSE 100 back into the middle of the symmetrical triangle formation and past the 20EMA.
• Looking at the hourly chart the market has just dipped below Friday’s lows and looks like it’ll head back down to retest the 6200 level.

It’s a bank holiday here in the UK today, and I will not be trading – just watching the markets and the FTSE which is effectively mirroring the futures market as it does out of hours.

Merry Christmas! Hope you have a joyous time over the festive season filled with love and laughter!

For reference, here is the chart of the FTSE 100 index at the close of play … Note the levels I mentioned in my previous post.

I will not be trading today as I still have some last minute shopping to do! Taking a quick look at the charts, I expect the FTSE to trade in a relatively narrow range between the 6230 and 6260 levels.

Just wish to take this opportunity to wish all my readers a joyous and happy Christmas!