08:25am    Back home after a short break away and I am planning a quiet day here catching up on emails and doing some chart watching from time to time, any trades I do have will be detailed below.

Market Update:

As the U.S. is still the leading economy in the world, traders still look towards its markets for a certain amount of guidance and equities there slid once again last night and closed down again as investors analyse the chances of success for President’s Trumps election promises. The markets have rallied very well over the last few months on optimism that big changes were expected that would bring a fresh look to politics and the economy in the U.S. but time and time again Trump’s government has been stopped in its tracks as they try to engineer big changes.

There is obviously some profit taking is occurring now in U.S. equity markets but traders are trying to guess how far the markets will fall. The S&P-500 closed at 2341.58 last night and although there is a small rise in futures markets this morning, we could see a return to the previously important 2280 level.  Asian markets ended mixed after their overnight session with the Australian ASX-200 a notable winner at +1.230% but most other bourses closing around level. European markets have had a good start today but there is not much economic news out today to give them much direction.

Crude oil values have had a large fall in the past month or so but U.S. WTI Crude seems to have found some support at $47.00 so mark that level on your charts and watch for some trading opportunities.

Trading Diary:

09:10am    Nothing yet coming up on my collection of favourite charts so I am off for a cycle ride.

12:10pm   Just entered a ‘long’ position on my Brent Crude Oil chart, it’s a Master-The-Trend Strategy-A pattern with an 11 pip stop loss.

13:15pm   Just come out of my Brent Crude position at +24 pips.  Off out for a quick lunch now, when I get back I will send out full details and chart screenshot as usual to customers who also use this strategy.

15:20pm    Back home now and just entered a ‘long’ position on my FTSE-100 15-min chart. It’s a Master-The-Trend Strategy-B set-up with an 18 pip stop loss.

17:00pm    Time to switch off my screens – I’ve been in the study for longer than normal but it has turned out to be a successful session, my FTSE-1oo trade has just been closed at +29 pips.   Total for the day therefore is +53 pips.