09:10am  We are experiencing problems with our U..S. email provider (Aweber) this morning so all usual emails (daily Trading-Guidance etc.) are later than usual, apologies if you have been affected by this issue. It would seem that they are getting through slowly and delivery has been speeding up over the past hour.

I am at home this morning catching upon emails and doing some chart watching before I am off to London this afternoon for a couple of days.

Market Update:

U.S. equity markets closed slightly up on Wednesday evening after President Trump signaled his support for an extension of the government debt ceiling limit and new funding plan and partly as a result the Dow Jones closed up by  just over 54 points at 21,807 and the S&P-500 was up by a similiar percentage amount despite ongoing concerns on the cost and impact of the two hurricanes that have and are affecting the south east of the country. The overnight Asian trading session was reasonably bullish although at the close indices in the region were mixed with the ASX-200 and Nikkei 225 slightly ahead but the two Chinese bourses finished the day in negative territory.

Oil values have been holding steady this morning after bullish action in the past couple of days, the problems over refining due to to Hurricane Harvey are largely subsiding as more refineries are coming back on stream so crude is being moved out of storage to satisfy this demand but to counter that there is still large oil stocks being held in the U.S. so prices are not gaining a great deal. U.S. WTI Crude closed Wednesday’s session at $49:13 (+56 cents) and is slightly ahead of that level this morning at $49:20.  Gold experienced a bout of profit taking yesterday as the price hit a previous high at $1338 from November 2016, it closed the day $5:70 down at $1334:00 but is slightly higher this morning ($1338:95)

Trading Diary:

10:15am   I have just entered a ‘long’ trade on my German DAX-30 15-min chart, it’s a Master-The-Trend Strategy-B set-up with a 36 pip stop loss.

11:25am  The price on my DAX-30 chart has risen quite dramatically in the past hour but has now reached a peak at 12365 and has started to decline so I am now out with a profit of +62 pips. As I am off to London at lunchtime I now turning off my screens and that’s it until next Monday.