09:15am (CET)  ~  The Fed Chief-To-Be, Janet Yellen had a grilling yesterday but came out ok it would appear and as a result pushed the S&P500 towards the lofty heights of 1800. These are uncharted waters as far as the index is concerned, my MT4 charts go back to 1991 and the previous highs were in pre-crash October 2007 with a level of 1576. This was almost the same value as March 2000 and would you believe in the middle of 1991 the S&P was at 390 ! It’s the same story with the Dow Jones 30, just different numbers.  Over in the UK all seems well at the moment, housing is doing well, unemployment is falling and Mark Carney assures us he’s in no mood to raise interest rates for a while yet. This together with  the fact that the FTSE100 daily chart has hit a support level over the last few days may see a small rise in the index over the next week.

We are off to Majorca this afternoon to sort out some property but I’ll be here in the study before that catching up on emails and doing a few Skype calls with budding new traders. I shall also watch my MT4 charts and I have just been informed a group of us are out for a cycle ride down into Calpe in 15 minutes.