10:10am  ~  I am back in the UK now but I am not sure I will be getting much trading done today as I have a number of meetings planned plus a trip into London this afternoon.  Tomorrow will be a quieter day so I will have more time to sit down in the study and watch some charts.

Both the German DAX and the S&P500 ended last week at more record highs and so far in 2013 this particular U.S. index has only experienced two negative months, which on the law of averages would seem to suggest that we should be due a negative one, contrary to the usually bullish end to the financial trading year.  If next week’s Non Farm Payrolls employment numbers look positive we may see a small sell-off as an good economic outlook for the U.S. will bring fears of tapering, and as we’ve seen over the past few months, the markets do not like that idea.

Gold hit a fairly solid resistance line again on the daily chart at $1255 last week so we may see some falls in coming few days, although China is reporting some increase in demand, so it looks like some good trading prospects in the next 5 days.