07:45am   Another day around the house so I will report back here if I have any trades.

Market Update:

European markets have just opened significantly up after a bullish U.S. session yesterday and also a very optimistic overnight Asian trading session. The Japanese Nikkei 225 ended up over 6% after Prime Minister Shinzo Abe announced support for the economy and the People’s Bank Of China are also offering monetary stimulus to alay investor’s fears over China’s slowing growth.  This action by the PBoC was the main reason that U.S. equities surged higher yesterday ahead of next week’s Fed interest rate decision – which is widely accepted now to be a bit of a non-event as the rate should stay the same after recent global market turmiol.

Here in the UK, there’s manufacturing numbers and the trade balance announcement out later this morning but Asian news is moving the FTSE 100 index more today. Crude Oil prices are still rising with expectations that the stock situation is going to substantially lower this week. The price now seems to be settling into a trading range between $48:50 and $44:00 and is now going up towards the higher level for a while.

Trading Diary:

08:05am   The markets are still settling down as the European markets open for the day so I am off with a neighbour for a cycle ride.

10:35am   Back now but not much on my charts, I’ll check again in 30 minutes or so.

11:10am    I am now in a ‘short’ position on my Gold chart – it’s a trendFX set-up with a 14 pip stop loss.

12:25pm   Now in a ‘long’ position as well, this time it’s the S&P 500 index. Another trendFX set-up and a slightly higher 35 pip stop loss.

14:55pm   Just got back from a quick lunch and seen that my S&P 500 trade has been stopped out at -35 pips although the Gold trade is doing ok.

15:10pm   The Gold price has just hit the $1,110 level which maybe a small support so I am now out of that position as well – score was +109 pips.  Back out into the garden to carry on yesterday’s  project so no more trading for me today.