08:35am   Another day planned at home doing some chart watching from time to time so any trades I find will be detailed below in my Trading Diary

Market Update:

U.S. markets had their first trading day of the week yesterday after the Labor Day holiday and the Dow Jones 30 index had its largest one day fall for 3 weeks after it dropped 234 points. This pessimism was mainly due to ongoing concerns regarding North Korea and their ongoing push towards becoming a fully fledged nuclear nation although there is some unconfirmed news out of China this morning suggesting they could be considering stronger sanctions against the rogue nation and if accurate, we could see equity markets stage a small relief rally.

The overnight Asian market continued to under perform after a North Korean diplomat said his country would deliver ‘gift packages’ to the U.S. if it continued to threaten them and President Trump announced his country would be allowing South Korea and Japan to purchase an increased amount of weapons from them to bolster their defences.  Virtually all indices in the region came in with negative scores with the Hang Seng Index performing worst at -284 points (-1.02%)

Unsurprisingly, Gold is continuing to benefit from jitters in equity markets and it closed up $5.10 at $1339.40 as investors kept the bullish moves going although the past few hours have seen some profit taking and the price is now sitting at $1337.45.  Crude oil markets are still being affected by adverse weather in the Central America region, even though Hurricane is subsiding, there is now Hurricane Irma which is slightly more westerly but will disrupt important shipping lanes which will affect oil exports. Despite this, Crude Oil price rose yesterday as refining capacity in the U.S. increased as more plants came back on line, WTI Crude ended up $1.23 at $48.60 and is further higher currently at $48.70 but watch a small resistance area at $48.88.

Trading Diary:

14:05pm    This morning was quiet with no excitement on my charts and I have just returned from a 2 hour cycle ride so I will be back watching my screens for the next few hours.

16:00pm   I have not encountered any trade opportunities in the last couple of hours, some of the markets that I normally watch have been quite volatile and others have just drifted sideways but I shall be back tomorrow to see what’s available on my charts.