08:10am   Planning a quiet morning here in my home office catching up on emails/Skype calls and doing some chart watching ahead of a trip to London after lunch.

Market Update:

Stock markets in the U.S. closed mixed yesterday as traders await the critical vote on Trump’s healthcare bill and oil prices took another tumble on larger than expected Stateside crude stocks. The overnight Asian session bucked this trend and ended positively although the Japanese Nikkei 225 did fall below the significant 19,000 level before closing up by 0.23% and the Australian ASX-200 had a choppy session after rises in Gold prices but volatility in Crude Oil markets.

European markets are opening down this morning after the terrorist attack in London yesterday and investors keep an eye on President Trump’s Pro-Growth plans for his country and the healthcare vote soon.  Gold had another positive day on Wednesday as equity markets falter and investors move money into safe havens, it closed at $1248.60 last night and is slightly down this morning on limited profit taking.

Oil prices had another volatile session yesterday as the U.S. stock numbers showed an increase in stocks once again although hopes for a continued production cut by OPEC members is keeping the support level valid at $47:00 for U.S. WTI Crude.

Trading Diary:

11:05am    Nothing to report so far this morning as far as trading is concerned, the markets that I watch on a daily basis are either floating sideways at the moment or jumping up and down in no real direction.  If you have any of my systems you will know I prefer trading a trend or a price reversal and none of these have come along so far today.

Time for a cycle ride I think.

12:20pm    Just got back home and my selection of charts have come out of the doldrums and started providing some potential trading patterns.  I have just entered a ‘short’ trade on my S&P-500 chart using my UTB price-reversal set-up and there could be another short on Crude Oil if the price drops soon.

 12:40pm  The Brent Crude price has dropped sufficiently so I am now in a ‘short’ position on that chart using a Master-The-Trend Strategy-B pattern, my stop loss is 19 pips.  My stop loss on the S&P trade is 18 pips.

13:10pm    Volatility is climbing as we approach the U.S. trading session open and I am off to London soon so I have closed both positions.  The S&P-500 trade has managed +53 pips and the Brent Crude has come in at +31 pips.

Back in front of my charts tomorrow morning.