08:15am  Back home after a short break away so I am planning a quiet day here in the study catching up on emails and doing some chart watching as well. Any trades I have will be detailed below.

Market Update:

U.S. markets were in an upbeat mood yesterday after early indications that corporate taxes will be cut quite substantially as part of Trump’s fiscal plan for the economy, the S&P-500 index ended the session +1.08% with the narrower Dow Jones 30 up by a similiar amount – we will know exact details in a planned news conference tomorrow.  The optimism from this and excitement from the first round of the French Presidential elections caused the overnight Asian trading session to close positively and Europe is also in an upbeat mood this morning.

As expected, Gold is feeling the pinch as money flows into equities in the past few days and geo-political issues take a back seat to good news. It ended Monday’s session flat at $1275.40 after staging a bullish price reversal off the 20-day moving average but is almost $5 off this morning as equities are on the march upwards again.#

Crude oil values are falling again and the U.S. benchmark WTI Crude has once again breached the $50 level and is sitting at $49.27 currently. It has been hovering around its 200-day moving average for a few days but has now fallen below the line which is usually taken as a fairly bearish sign.

Trading Diary:

11:25am   Just taken a ‘short’ position on my Gold 15-min chart, more details soon

11:40am   The above trade is a Master-The-Trend Strategy-A pattern with a 15 pip stop loss.

13:05pm   My trade reached +28 pips a few seconds ago so I am now out of the position.  Back in front of my screens after lunch.

15:10pm    Back home now but it’s too sunny outside to be stuck indoors so I am finishing my chart watching for the day – back here tomorrow morning.