08:05am (7:05am UK time)  ~  It looks like another day outside helping the builders today but I shall be here in the study on and off this morning catching up on emails. Firstly though, I am off for a quick cycle ride with a neighbour towards Formentor before it gets too hot.

The main news breaking this morning is that China’s Manufacturing PMI hit a 3-month low overnight which seems to suggest that their economy is faltering which in these days of a global marketplace is going to have knock-on effects elsewhere. Over in the U.S. the S&P500 finished at near all time highs last night, very close to a resistance level around 1990, despite FOMC minutes suggesting that a rate rise maybe closer than many investors had previously thought.  This news initially sent the main markets into a tailspin but they quickly recovered and finished ahead for the day after encouraging corporate news including Home Depot who are benefiting from the buoyant U.S. housing market. There was a different story over here in Europe where the German Dax 30 index is well off the highs of mid-June although rumours regarding the European Central Bank introducing some stimulus to get the Eurozone going again should keep it going in its present bullish trajectory.

West Texas Crude had a rare bullish day yesterday after the week’s stocktaking numbers were released – there was an unexpected drop in inventory, down by just over 1.4 million barrels and this helped move the price upto $93.55 at the close of trading.  Gold on the other hand fell for the fourth day in a row, yesterday’s prompt was rumours of an earlier than expected rate rise following the FOMC minutes.  It closed at $1292 last night but is now sitting at the $1280 support level as I am typing this update.

Market Close Wednesday 20th Aug. 2014:  Dow Jones 30  +59.54 @ 16,979.13  S&P 500  +4.91 @ 1,986.51  FTSE 100  -23.83 @ 6,755.48  DAX 30  -19.71 @ 9,314.57  CAC 40  -13.66 @ 4,240.79

18:05pm  ~  Had a nice day out in the sun helping out the builders and I’m now back in the kitchen watching the S&P 500 on this laptop to see if there’s any “Trade With A Day Job” set-ups in the next hour or so.

18:20pm  ~  Maybe a ‘long’ position setting up….

18:35pm  ~  I am now in the market with an 11 pip stop loss.

20:55pm (19:55 UK time)  ~   I have been reminded by the blonde that we’re out in about 30 seconds so I’ve closed off the S&P trade with a 25 pip profit.

Daily Target +20 pips

Pips Achieved +25 pips