08:15am   Quiet day planned here at home catching up on emails and doing some chart watching – any trades I have will be reported below.

Market Update:

U.S. markets finished Monday’s session just in positive territory after bank stocks held the indices up as tech companies staged a decline although the Nasdaq understandably closed down 25.50 points at 5774.50 and futures are showing further declines this morning – currently at 5763.10. Major contributors to the fall were Facebook, Amazon and Google parent Alphabet after a fairly good run up in  June.

The overnight Asian market finished mixed as traders await potential Central Bank revelations today, there are speeches by ECB, Bank Of England and Federal Reserve heads throughout today so markets generally could be ‘choppy’. So far the European bourses have got off to a negative start, no doubt partly due to Mario Draghi’s comments a short while ago where he defended his stance on loose monetary policy. He is concerned that an abrupt end to the ECB’s policy could result in recession across Europe which has not filled traders with optimism this morning.

Oil prices are rising this morning for after three consecutive bullish sessions on short covering by traders/investors. U.S. WTI Crude touched a low at $42.00 last week and has since rebounded well despite continuing worries over large global stocks although the 4hr chart is suggesting price may only get as far as $44.00 before further falls hit the market.

Trading Diary:

13:05pm   I’ve had no interesting trade opportunities this morning so nothing to report, off for quick lunch now.

16:00pm    Been back home for an hour and no trades to report so I am closing off my screens for the day, back tomorrow morning.