07:55am  Nice relaxing day at home so if I have any trades they will be reported here.

Market Update:

Yesterday’s Global Financial Stability Report released by the IMF has put a slight dampener on any bullish sentiment in equity markets as it warned of the risk that the slowing Chinese economy is going to have on the rest of the world’s financial markets together with a growing concern over potential problems that large insurance companies are going to pose to stability to global economics. U.S. equities ended Monday’s session lower with the S&P 500 reversing at 2080 long term resistance level and is looking weak again in futures trading this morning.

The overnight Asian session was fairly bearish with the Japanese Nikkei 225 index falling 2.4% on a stronger Yen and falling oil prices and Chinese equities did not fair much better with the Hang Seng Index down 1.6% although the wider Shanghai Composite did manage to end the session slightly up.

European markets are set to open lower after falls in U.S. equities yesterday afternoon, the German Dax-30 index is  starting a bearish trend on the daily chart after a week or so of sideways movements. With this pessimism in equities, Gold looks to gain some ground, it has just reversed off its 50-day moving average and is looking fairly bullish this morning. It had a negative day on Monday but is already well up on the $1215.11 close level yesterday – it is currently sitting at $1228.12

Trading Diary:

12:20pm   Been a quiet day so far on my charts so nothing to report – out for lunch soon with some fellow traders and then back later to see if there are any trade opportunities.

16:05pm   Got back home an hour ago but nothing of interest on my charts so I am closing down the screens for the day. Back tomorrow morning.