08:20am CET (07:20am UK time)

Just sent off my daily ‘Trading-Guidance’ email to subscribers and now I am going to settle down here in the study to catch up on emails and do some chart watching now and again.

Market Update:

Wednesday’s main market news was last night’s FOMC (Federal Open Market Committee) meeting minutes which revealed the majority of members are now in favour of a rate rise in December. Equities took the news much better than in previous months and traders seem to be looking forward to a ‘normal’ U.S. economy where there will be small but regular rises in the minimum lending rate over the next few years upto the expected 2%-3% level. Over in the UK, the Bank Of England would normally follow around 9-12 months later so British businesses are safe now until the end of 2016 it would seem.

Both the S&P500 and Dow Jones 30 indices ended yesterday’s session up on the Fed’s news and this sentiment spilled over to the overnight Asian trading session with the Nikkei 225, Hang Seng and Shanghai Composite all ending up by over 1%.  Crude oil took a break from its bearish trend and U.S. WTI Crude posted a 15 cent rise by last night to $40:88as bargain hunters moved in temporarily and there does seem to be a small support level developing at $40 so watch out for trading opportunities around this number.

Trading Diary:

All Time Below Are CET (UK +1hr)

11:45am     It’s been quite a quiet morning on my collection of favourite charts so I am now going to clear the cobwebs and have a cycle ride up towards Formentor.

16:10pm   Been back from lunch for an hour and I’ve not seen any trading opportunities so I’m calling it a day – back in front of my charts tomorrow.