09:20am  Another day at home catching up on emails and doing some chart watching – any trades I have through the day will be reported below. Slightly later than normal market update this morning as I’ve already been out on my daily cycle ride as it was so sunny earlier on.

Market Update:

The Chinese markets are closed for the mid-autumn festival today so there was a fairly subdued overnight Asian session following on from the slightly negative U.S. close last night. Equity markets seem to treading carefully at the moment on worries over what Central Banks are going to do in the next few weeks with Bank Of Japan and the U.S. Federal Reserve the main protagonists.

Wednesday’s U.S. Crude Oil stock numbers announcement caused the usual amount of volatility in the markets after it was shown that U.S. inventories dropped by nearly 560,000 barrels against an expected rise of 3.8 million barrels although this optimistic news did nothing to calm the market and WTI Crude fell $1:40 during yesterday’s session to close at $43:61 but the price has stabilised overnight and is currently trading at $43:55.

The price falls that Gold has experienced in the past week slowed yesterday as the price has found support around its 200-day moving average so today’s price-action will confirm if this is a major support or just a stopping off point in the journey down to the $1300 level again.

Trading Diary:

10:25am   I have just entered a ‘long’ trendFX strategy-3 position on my S&P-500 15min chart with a 37 pip stop loss.

12:05pm   The S&P price has become suddenly quite volatile so I am now out of my position at +37 pips. Happy with that score so no more chart watching until tomorrow morning.