08:10am  ~  I have a few errands to complete this morning before flying off to Majorca this evening, but I will be around for a few hours to do some emails and chart watching. I also have a cycle ride to fit in as well and a builders meeting at lunchtime.

There is a big day for economic releases so the European bourses will more than likely open flat and then wait for some clues from ECB head Draghi regarding interest rates and monetary stimulation at lunchtime. Here in the UK we have the Purchaser Managers Index numbers soon, so traders in London will watch to see if the expected 58 level is announced – anything over 50 signifies general UK industry expansion and we’ve not had anything under that level since January last year.

Over in the U.S. the S&P500 hit the high of early March towards the end of their session before profit-taking forced the index back slightly and overnight futures trading has only produced some range-bound trading. The Dow Jones 30 continued its uptrend yesterday, gaining 39 points to 16,570 a level not seen for a few months. Behind the rally was the ongoing strong economic data showing the US companies added 191,000 jobs last month according to the ADP Research Institute so expectations will be hight for encouraging numbers in tomorrow’s Non Farm Payrolls.  Gold is starting to look cheap for some traders after a prolonged bearish move that started in the middle of last month, so bargain hunters were credited with lifting the value yesterday, up $10 to $1290.

09:25am  ~  I am just getting ready to get into a ‘short’ position on my Gold chart with one of my trendFX set-ups.

09:35am  ~  I am in the market with an 18 pip stop loss.

12:05pm  ~  Not been out for a cycle ride yet (or done much at all) as I’ve been watching this Gold trade of mine, but I am off out soon so I shall probably shut it off.

12:25pm  ~  I am out of my Gold trade with a +31 pip profit.

16:15pm  ~  Back home now and I have a few hours before we are off to the airport so I shall the opportunity to trade the first part of my evening trading strategy – it kicks off at 5pm.

17:20pm  ~  I am now in a ‘short’ position on the S&P500 – my stop loss is 14 pips.

17:45pm  ~  Well – that was quick. The S&P has dropped down nicely and my 20 pip target was hit a couple of minutes ago, so I’m now out of the market.