07:35am   After a nice day off yesterday I am back here in the study catching up on emails and doing some chart watching before I am off to visit some trader friends in Barcelona tomorrow for the rest of the week.  Also a big big thank you for all those who donated money for my London-Brighton Bike Ride on Sunday.

Market Update:

Once again there has been optimism regarding the Greek debt situation as a new proposal by the Syriza party was delivered to EU leaders late yesterday and Jean-Claude Juncker said he was convinced that a last minute deal could be achieved and French President François Hollande commented that the EU was moving towards a deal with the Greeks. There is another meeting tomorrow and traders will want to see something more concrete if they’re still going to be in a buying mood that kicked off yesterday afternoon on the back of positive sentiment in Europe.

On the back of this news, the Dow Jones 30 index rallied just over 100 points to end the session at 18,120 with the S&P up by roughly the same percentage and here in Europe the German Dax 30 has had a mixed year so far, there was a note by investment giant JP Morgan yesterday which recommended buying now as they see a +10% rise coming for the rest of 2015, so they are quite optimistic about a solution to the problems that are concerning the EU at the moment.

With a generally bullish air to equity markets at the start of this week, there was little hope of Gold was going to carry on up as it has done for the past week – it ended the day down nearly $15 at $1186:00 and there now looks to be a new resistance forming on the chart around the $1205 level.

Trading Diary:

08:00am   There may well be a UTB trade in a minute on my S&P 500 chart if the price goes below 2126.60 now that the 8am candle has just started.

08:10am   The price dropped and a trade was triggered so I am in a ‘short’ position with a ‘whopping’ 10 pip stop loss.

11:35am   All of a sudden the S&P price has become quite volatile and it also seems to have formed a minor support at 21228 so I am now out of my position with a +30 pip profit.

11:55am    Cycle ride, video games like 케이카지노, lunch and then a game of tennis this afternoon so no more chart watching today