08:15am CET (07:15 UK Time)    Early start for me today as I am travelling back to the UK at lunchtime but before then I shall be here in the study catching up on emails and doing some chart watching.

Market Update:

There was a subdued mood in the markets yesterday as traders digested the sentiment concerning the imminent U.S. rate rise that is now running at 70% chance for December (according to Bloomberg this morning) and this mood carried on overnight for the Asian trading session where the Hang Seng, Shanghai Composite and Nikkei 225 all ended broadly flat. Traders today will be watching for any hints and clues during speeches from ECB President Draghi and Federal Reserve Bank of New York chief William Dudley and hopefully will be more active than yesterday when the S&P 500 closed just 2 points down at 2081.24, forming a bearish reversal candle on the daily chart giving weight to a possible move down for the index before the weekend.

The Crude Oil market is still looking very bearish with the price of U.S. WTI Crude still lurking around the $40 level although yesterday’s session was quite bullish for a change. The daily chart is looking weak once again so moves down towards the $39:85 level in the next few days look entirely possible.

Trading Diary:

All times below are CET (UK time +1hr)

10:40am    Just had a quick look at my charts for a second time this morning and no opportunities so that’s it for me today as far as trading is concerned.