09:35am CET (08:35 UK Time)  Not sure how much trading I’ll manage today as I have some errands to run in Palma but any trades I do have will be reported below through the day.

Market Update:

An interesting day ahead in European equity markets are promised after large falls in the U.S. yesterday, the biggest one day drop since the end of September. There was speeches by both Janet Yellen and Federal Reserve member William Dudley and while Yellen did made a deliberate effort to keep her talk non committal, Dudley came out quite plainly and said that conditions for a rate hike were almost satisfied. This together with worse than expected unemployment claims numbers sent the markets into a tail spin with the S&P 500 losing 29 points (1.4%) by the close of Thursday’s session to end at 2045.96 although it is slightly higher in futures  trading this morning at 2047.60.

The value of Gold is still heading in a bearish trend and has been since the middle of October although it did touch a July support level at $1074 during yesterday’s session and rebounded upwards, it is suffering from a lack of demand in Asia together with rumours/fears of a U.S. rate hike in the next few months.  Crude oil values are also at near term lows with U.S. WTI Crude suffering from an excess of stock even though production has been cut back drastically this year, it closed down at $41:59 last night after a very bearish session, a level we’ve not seen since August.

Trading Diary:

23:15pm    No chance for any trading today as I was out of the house for most of it.