09:45am   Around the house for most of the day so any trades I have will be reported below. Slightly late Market Update this morning due to some technical issues with a couple of laptops.

Market Update:

Traders will be concentrating on the Bank Of England’s Monetary Policy Committee announcement at midday (UK time) for the expected interest rate cut that has widely been predicted and to a certain extent priced into the market already. Going back to yesterday though, U.S. indices finished positively after the weekly crude oil stock situation showed a slight fall in the amount of barrels held as Cushing, Wyoming which helped energy producers and the wider market. WTI Crude ended the day 3.3% up at $41:14 although it is slightly down at $40:19 this morning.

The overnight Asian session benefited from the positive U.S. close last night with most indices closing up on the day but European markets are mixed at the moment after a few hours of trading, the FTSE-100 and French CAC-40 are down currently but German and Spanish indices are slightly ahead.  Gold experienced a bearish session yesterday as equity markets rose and today’s daily chart is also down slightly  - it closed last night at $1357:90 and is now further lower at $1352:80.

Trading Diary:

11:20pm    Just got back from a cycle ride and I can see that a UTB ‘long’ trade has already triggered on my 30min S&P-500 chart  but as the price has not really moved up much I can still join in at an advantageous level.  My stop loss is 15 pips which is acceptable given the Bank Of England announcement coming up soon.

12:50pm  The S&P-500 price has shot up and now beginning to retrace backwards so I am now out of my UTB position with a +54 pip profit.

13:05pm   Nothing else to report on my charts so off to lunch for an hour or so.

16:00pm   Been back home for an hour or so but there’s been no other trade opportunities on my favourite charts so that’s it for the day as far a watching the screens.