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!

The bullish start to the day really set the tone with the FTSE 100 breaking through the 6200 and finishing up just shy of 6250 at the close. Looks like the much anticipated Santa rally has already begun!

This morning I placed a counter-trend trade at the 6167 level looking for price to retrace, and shortly after closed it out for a 5 point loss due to the market spiking up rapidly. I managed to place a second trade, this time with the trend as price ran into support from another existing intraday level as well as the 20EMA. That netted me 8 points. The final trade was after the US markets had opened, based on a classic pullback to the moving average, which was closed out for 15 points.

Running late this morning so will explain later this evening …