Well the market rarely does what you think it’ll do and today was another example of that. My bullish bias to the day was put into question fairly early on this morning as the FTSE 100 index failed to hold the 6137 support level. That was the first sign that the market was not quite ready to move on up as quickly as I had first anticipated.

I traded that particular level again and was immediately in the red for about 30 minutes, and just lucky not to have been stopped out. The FTSE recovered and I managed to bag a few points as the FTSE dipped back below the 20EMA and looking rather bearish at the time.

I was out for lunch and by the time I returned the FTSE had broken through the 6137 level despite sitting on it for about an hour. The US session saw further downside with the FTSE retesting the 6100 level several times. I managed to get in and out off the 6100 support level for a few more points and called it a day.