08:30am   Nice relaxing day at home catching up on emails and doing some chart watching.

Market Update:

The London market has got off to a negative start after the May bank holiday break yesterday which mirrors indices in Hong Kong and Japan during the overnight Asian trading session – they both ended in negative territory with the main Tokyo index (Nikkei 225) down over 3% at the close.

The Reserve Bank of Australia cut their minimum lending rate by 0.25% to 1.75% against expectations and this gave a boost the the ASX 200 index in Sydney but there was a negative reaction to the Australian Dollar, the AUD/USD forex pair is now well off its high of  0.78342 of nearly 2 weeks ago and is now sitting at 0.76177.

Yesterday’s U.S. trading session ended fairly positively with the main Dow Jones 30 index finishing up by 117 points at 17,891 but so far this morning in the futures market the index is 17,786 reflecting a negative sentiment across most European markets.

Gold is enjoying a a bullish run on the back of pessimism in equity markets and briefly touched the $1300 level during yesterday’s session and this morning it does look as though we will see moves above $1300 quite soon.

Trading Diary:

10:20am   First opportunity I’ve seen this morning and I am now in a ‘long’ UTB position on my FTSE-100 chart. Stop loss is a reasonable 12 pips.

10:45am   Well, that was a quick trade ! Position stopped out at -12 pips.

11:05am  Cycle ride now, all quiet on my charts.

12:50pm    In another UTB trade, this time a ‘long’ set-up on my French CAC-40 15min chart with a 10 pip stop loss.

14:00pm   Just back from lunch and my CAC trade was sitting at +20 pips so I’ve closed it off for a quick profit as I’ve got some errands to run so I shall be in and out of the house for most of the afternoon.

Back in front of my charts tomorrow morning.