08:00am  I am in and out of the house all day but I will be watching my charts from time to time so any trades I take will be detailed below in my Trading Diary.

Market Update:

European markets closed mixed yesterday on disappointing earnings news although the gas/oil sector did provide a small lift and later in the day the U.S. equity markets all finished in negative territory. The Dow Jones 3o index was down by 193 points (-0.78%) and the S&P-500 and tech-centred Nasdaq Composite Index where down by a similiar amount and this fall was triggered mainly by a rise in the U.S. 10-year Treasury Bond yield which 3.09%, it’s highest level since 2011 but also some company results also caused a fall – Home Depot was a notable faller at -1.6%.

The overnight Asian trading session took its cue from the U.S. and most indices closed down and the Korean talks cancellation did nothing to excite traders either. The Chinese Shanghai Composite was the larges faller of the night, it fell 0.70% and the tech company Tencent fell over 1% which helped drag down the Hang Seng index by the close.

Oil markets are taking a breather after some large rises in the past few weeks, WTI Crude has experienced a long run-up since this time last year where it was sitting at $42.00 and hit a high of $71.92 yesterday before suffering some profit taking as news of oversupply swayed traders bias towards selling.  The 20-day moving average is currently around $69.30 so this could be a target this week ?

Gold suffered a large $22.99 fall in value yesterday to finish the session at $1290.99 after U.S. Treasury Yields rose and the Dollar strengthened although there is some bargain hunters appearing this morning and the price has risen to $1295.93. We could see some resistance at $1304, the 200-day moving average.

Trading Diary:

08:45am     Nothing to report trade-wise at the moment, going out for a run.

11:00am   I am out now for a few hours so charts off and report back later.

17:10pm     I’ve ended up being out all day so no trades to report. Back at my desk tomorrow morning.