08:20am UK time  ~  I am back in Suffolk this morning after my short holiday in Cyprus and will be concentrating on emails this morning together with quite a few Skype calls that have been requested since the end of last week. Some chart watching will be on the cards as well I would imagine.

As you’re probably aware the U.S. markets were closed yesterday for their Labor Day bank holiday so trading in Europe looked subdued to say the least. With the Japanese Yen trading at a 7-month low the Nikkei index ended the overnight session at the highest level since February on exporters optimism and will no doubt give European equities a slight boost this morning after the low volumes yesterday.  Over on the Foreign Exchange markets, the Euro continued its drop against the U.S. Dollar as the EU region continues to struggle with slow growth and mounting economic fall-out from the troubles that Putin is creating in Ukraine – which due to a reluctance to stand-up to him by EU leaders will only encourage Russia to eventually mount a full-scale invasion. Lacklustre manufacturing data out from various European countries yesterday will inevitably put pressure on ECB chief Draghi to announce some sort of stimulus (money-printing) package at the ECB press conference on Thursday.

Trading in Gold yesterday was confined in a tight range yesterday commensurate with overall market activity and at the close last night had formed a reversal candle on the daily chart, but there has been a sharp drop in early trading this morning following bullish Asian activity – the price has almost hit the short-term support level at $1273 so watch out for ‘long’ trading opportunities if it gets down to this point

Market Close Monday 1st Sept. 2014:  Dow Jones 30  Closed 17,098.45  S&P 500  Closed 2,003.37  FTSE 100  +5.56 @ 6,825.31  DAX 30  +8.86 @ 9,479.03  CAC 40  -1.31 @ 4,379.73

8:45am  ~  Not much happening on my charts at the moment so I am off out for a cycle ride towards Wrentham & Henstead.

10:10am  ~  Back at my desk here in the study and there are a few potential trades setting-up so I’ll report back soon.

10:35am  ~  I have just entered a ‘short’ UTB trade on my Gold chart (22 pip stop loss) and there is the early signs of a similiar trade on my Dax 30 chart.

11:25am  ~  Gold has spiked down quite quickly so I’ve been stopped out at -22 pips, although there is now a potential UTB ‘short’ on my Dax 30 chart.

11:45am  ~  The UTB on my Dax chart has triggered – I have a 16 pip stop loss.

12:55pm  ~  The Dax 30 has come down to the ‘large’ number of 9500 so I’ve come out of my position with a +56 pip profit.  Out to lunch now at the Harbour Inn with friends.

14:30pm  ~  Far away from charts this afternoon – I am going to help a neighbour rebuild his Austin 7 gearbox.

Daily Target  +20 pips

Pips Achieved  +34 pips