Trading Diary & Market Update ~ Wednesday 21st May 2014
07:05am ~ Back last night from a long weekend away and I shall be around the house today catching up on emails and Skype calls and also watching a few charts as well. There is talk of a tennis match this afternoon but not confirmed yet.
Looking at the charts a few minutes ago I can see that both the Dow Jones 30 and S&P500 had a generally session yesterday, with the latter stalling again at the 1900 level last week and no good corporate news to enable a push above this resistance point. We have seen in the past that when the Dow has hit its present level in the past month it has attracted buyers back into the market, so we may see a bounce back up after losing over 130 points yesterday. The Gold price is till looking for some direction, it remained under $1,300 again yesterday as commodity traders await the minutes from last months Fed meeting later today. These minutes should have a big impact on the precious metal as details of how Janet Yellen may change monetary stimulus in the future should be revealed, it closed up $2 at $1,295. Oil values continue to be affected by troubles in Libya, their oil fields are still closed and this resulted in the July WTI Crude contract finishing up 22 cents at $102.33 yesterday.
22:55pm ~ Nothing to report with regard to trading, there’s been a family emergency which has kept me busy all day and I’ve only just returned home.