09:45am (CET)  ~  I am slightly later this morning with today’s market update as I am rushing around before catching a plane back to the UK at lunchtime.

Well - The big news yesterday was that the Fed has decided to taper its quantitative easing policy by $10 billion per month, to $75 billion. Chairman Ben Bernanke expects the program to wind down steadily through 2014 and conclude by year-end, assuming that the U.S. economy remains in a healthy position. This announcement was widely expected as it was his idea and it was also his last speech before he hands the reins over to Janet Yellen in the new year and also it was felt that the economy had become strong enough for the Fed to feel confident in reducing the level of Bond purchases down from the $85 billion level. Initially the markets reacted badly as soon as the news came out, but then traders began to think again and came feeling that it was not such a bad idea, as the reduction was only £10 billion per month – and this sent equities up to the previous month’s highs.  Gold, as it often does, went in the opposite direction and is now testing the $1200 support level as it did in 2010. News of a drop in U.S. oil stockpiles plus a general feeling of optimism in the economy sent the WTI price a few cents higher to $97:86

19:10pm UK time  ~  We arrived home a short while ago after going into London to do some quick last minute shopping after landing at Stansted.  I am going to watch my charts for an hour or so before we’re due out for supper with neighbours.

20:45pm  ~   I had a ‘long’ opportunity with my “Trade With A Day Job” system and caught a quick 20 pip profit. Entry was at 19:35 with a stop loss of 16 pips. It looks as though the resistance level on the S&P500 of 1810 from the end of November is still intact.

Daily Target Reached ?  YES (+20 pips)