09:15am (CET)  ~  After being out for most of yesterday, today is going to be spent at home, concentrating on emails, Skype calls, some chart watching and keeping the builders in check. I am also out for a cycle ride with a friend this morning although not sure where we’re off to yet.

The markets are still treading water with nobody in a big rush to commit to any particular kind of move, waiting for central bank and employment news from today onwards. The ECB are under pressure to cut rates to stimulate some growth in the European Union and optimistic U.S. jobs news should get traders back into action by the end of the week. U.S. indices had a mainly neutral trading session yesterday, still marking time near all time highs, seemingly waiting for some sort of concrete excuse to go either long or short, nobody can earn any money with the markets acting so indecisively, although price-action on my daily charts does suggest some bullish momentum gathering pace.

A larger than expected rise for U.S. factory orders kept demand for crude oil up together with reported supplies at Cushing falling as the southern leg of the Keystone pipeline started transporting oil to the Gulf Coast refineries meant that the WTI Crude price rose 39 cents yesterday to end at $102.83.   After moving down for seven straight days, Gold prices rose slightly to £1243.9, partly on the back of a small drop in  equity markets together with some bargain hunting from commodity traders. A reversal candle  formed on the daily chart, so a move above the $1248 level today may see a move upwards nearer its moving averages.

09:55am  ~  Just had a look at my inbox and I’ve had over 600 replies to my “Win A Trading System“ competition, so I shall be kept quite busy for the next day or so looking through the messages – thank you to everyone who has responded so far. If you’ve not received details of the contest, just email me for more information.

22:10pm  ~  The broadband here has been off for most of the day but looking at my charts 5 minutes ago assures me I’ve not missed out on much. Most market participants are sitting on their hands waiting for Central Bank and U.S. employment news