08:00am   Back in front of my screens after a long weekend break, any trades I do take will be detailed below in my Trading Diary.

Market Update:

Despite a terror-related incident in Time Square, New York yesterday morning, investors were still bullish and drove the S&P-500 and Dow Jones indices to record highs during Monday’s trading session. The S&P-500 closed at 2659.99 (+0.32%) after energy and tech stocks rose around 0.7% with a rise on Crude Oil helping the energy sector.  The overnight Asian trading session was not as optimistic however with the Hang Seng trading negatively for most of the night and closing down by 132.63 points at 28,832.66 although other major markets did manage to finish just in the black. Trading volumes were slightly down on normal levels as traders await the U.S. Fed’s decision on their interest rate later in the week.

Oil prices were given a boost yesterday and Brent rose 1.5% and hit its highest level since June 2015 after reports that the Forties pipeline needs work and is being closed down for around 3 weeks. WTI Crude jumped on the back of this news and closed at $58:00 last night, up 73 cents on the day.  Gold is slipping once again as money continues to pile into equities, the safe-haven commodity finished Monday’s session at $1241:80, down $5:80 on the day. The price is now well below its 200-day moving average and is now developing quite a strong bearish trend and I can see now credible support level until $1200.

Trading Diary:

 10:15am   I have just taken a ‘long’ position on my UK FTSE-100 chart, more details soon.

10:30am   The trade I’ve taken on the FTSE is a Master-The-Trend Strategy-A set-up with a 21 pip stop loss.

10:50am    Now in another Master-The-Trend Strategy-A position, this time it’s on my UK Brent Crude Oil chart and my stop loss is slightly higher than my normal amount at 35 pips which reflects the way the price action is today after the Forties Pipeline news yesterday.

13:10pm   I’ve just closed my Brent Crude position, it seems to have reached a high now and my stop loss has been covered so I am happy with my +38 pip profit. Off for a late lunch now, keeping my FTSE trade stop loss at 21 pips as it hasn’t moved up much in the past few hours.

16:25pm    I have been waiting for the FTSE price to hit 7500 and it finally did so a few minutes ago so I am now out with a +27 pip profit as the price has retreated back from the ‘Big’ number now.  Today’s overall score is +65 pips.