08:10am    At home this morning catching up on emails and doing some chart watching ahead of meetings in London later this afternoon. Any trades I do have will be detailed below.

Market Update:

The overnight Asian trading session closed mainly negatively as stocks were under pressure from the decline in U.S. equity markets yesterday plus the fall in Crude Oil prices in the past 24 hours. Monday’s U.S. session finished down except for the tech-heavy Nasdaq index – the Dow Jones Index closed 75 points in the red as utility shares fell ahead of the first earnings season of the new year although Goldman Sachs had the largest drop of the session and the 3.75% fall in in Crude Oil values also contributed to the negative sentiment.

With this wave of pessimism sweeping markets as the world gears upto the start of Trump’s presidency, it is no real surprise that investors and traders are buying gold at the moment. This commodity had another positive session yesterday, rising $8.21 to close at $1180.90 and this morning it is higher at $1184.70 and quickly approaching its 50-day moving average so we may see some profit taking at that level.

The fall in Crude Oil prices has been mainly attributed to concerns over higher production in the U.S., WTI Crude fell $1.98 during Monday’s session to close at $51.76 although it is slightly higher this morning at just over the $52 level – this has been a good support in the past so watch for further reaction.

Trading Diary:

09:05am   Quiet currently on my favourite charts with no trading set-ups standing out so time for a cycle ride…

13:15pm   In the past 3-hours since I’ve been back from my cycle ride there’s been no trade set-ups on my group of favourite charts and I am now off to London for the rest of the day – back here in front of the screens tomorrow morning.