08:25am   Nice relaxing day at home so any trades I have will be reported below.

Market Update:

Asian markets overnight ended mixed as pressure from the oil sector and weak Chinese performance weighed on equities, the main Shanghai Composite finished down 70 points (-2.3%) at 2,972 although the Japanese Nikkei 225 faired slightly better with a +32 gain on the day. U.S. markets on Tuesday finished the session with small gains with the wider S&P-500 index finishing above the important 2100 level for the first time this year – I have an interesting chart on this subject, if you’d like to see it just email me.

Oil prices rose yesterday with the U.S. WTI Crude hitting the $42 level at one stage although there’s pressure on the price today as Kuwaiti oil workers resume production today after a 3-day strike, the U.S. benchmark has now slipped back to $41:58 at the moment. The price has been hovering around its 200-day moving average now for the last week so a break out one way or the other is on the cards, watch out for good trading opportunities.

Trading Diary:

9:00am   Nothing on my charts currently so I’m off for a swim in the sea as it’s such a lovely morning.

11:35am    Just waiting to see if the S&P-500 price rises above 2098 in the next 30 minutes or so – if it does it will trigger a ‘long’ trendFX strategy-3 trade.

11:55am   Now in the position described above, I am working on a 15min chart and my stop loss is 27 pips.

12:05pm  My position has quite quickly got into profit (+24 pips) so I’ve just brought my stop loss upto break even just to guard against any potential volatility as we move towards the U.S. trading session open in just over an hour.

13:25pm   Going out for a quick lunch with some friends now so I’ve just closed off my S&P position, it has managed +48 pips.  I will send over a chart screenshot to clients who also have this trading system when I get back.

19:30pm  I was out all afternoon playing golf so no more trades to report.