07:05am   A very early start for today as I am joining some friends on a track day in Norfolk later this morning – this means no trading today for me — some emailing and Skype calls before that though.

U.S. markets could not sustain Monday’s levels and dropped back during yesterday’s trading session on disappointing economic data and the looming FOMC meeting later this evening. With trading volume expected to be fairly low today, traders were adjusting their positions yesterday before the Fed’s statement at 19:00 UK time tonight. Here in Europe yesterday there was also worse than expected numbers for French and German PMI and UK GDP so recent optimism may well have been misplaced  although final judgement can wait for the Federal Reserve’s thoughts later today.

Gold prices continued its rebound yesterday and finished almost $10 up at £1210 and is now at the top of the narrow band that it has been in for the past month but if the U.S. delay raising their interest rate this could well give added impetus for Gold to climb further, another reason traders will be very interested in the rhetoric this evening.  My Brent Crude chart shows the bullish sentiment is slowing slightly this week but there maybe a support developing around $62:75 which will help another move up after the profit-takers have finished filling their wallets. The U.S. WTI Crude chart is broadly similiar although it is showing itself to be more oversold at the moment so looks poised for a move up by the end of this week. I will send a out a screenshot of my Bent Crude chart just to illustrate my thoughts.

Market Close Tuesday 28th April 2015:   Dow Jones 30  +21.45 @ 18,080.14  S&P 500  +4.76 @ 2,117.699  NASDAQ  +59.71 @ 4,536.78  FTSE 100  +17.03 @ 7,070.70  UK AIM  +2.45 @ 753.43  DAX 30  +87.27 @ 11,810.85  CAC 40  +22.54 @ 5,201.45  IBEX   +79.60 @ 11,505.40   Nikkei 225 (Today)  -69.42 @ 19,950.62  Hang Seng (currently)  +408.84 @ 28,469.82