Equity markets around the world have moved higher on expectations that European leaders have got to grips with the urgency of the situation regarding Greece and the probability of the country defaulting in the near future and will come up Plan A very soon. Don't bet the family jewels on this just yet though.

Recently the markets have moved in a " one step up, two steps down" formation, so the danger level is as high as ever and volatility is still close to being off the scale, while chartists are pointing towards levels a lot lower than we are seeing at the moment.