08:55am (CET)  ~  European markets are set to open flat as traders gather their thoughts ahead of this weeks FOMC meeting. Markets saw some profit-taking yesterday as traders appraised their positions and markets are now expected to keep trading within a tight range until the Fed meeting on Thursday shows us what’s going to happen about Bernanke’s stimulus programme.  No matter what the consensus may be, traders remember that from last month that forecasts can be 100% wrong.  So until Thursday, expect markets to tread water.

The US economic figures released yesterday continued to add to worries that a slowdown might be on the cards. This time it was pending home sales numbers – they plunged faster than predicted in September, the fourth dive in a row.  Gold prices yesterday oscillated around their 6 weeks high at $1353.5 on expectation that postponing the tapering is more likely than not.

Not sure if I’m going to be doing any trading today, if the weather is as nice as yesterday, we’re off for some horse-riding and I’ve also got to pick-up a rental car in Palma. So far it’s very cloudy and there looks like rain on the horizon though !

12:10pm (CET)  ~  As I thought earlier, there’s not much been happening on the markets this morning, but I have managed to have a long trade on my S&P500 chart. I got into the position a few minutes ago and I am currently at ‘break-even’ so I will report back soon as to the outcome, I’m not going to stay in very long as we are off out soon. My stop-loss on the trade is 14 pips.

13:50pm (CET)  ~  I am now out of the market with a quick 20 pip profit.

21:05pm (CET)  ~  We got back here at 7pm and I did switch on my MT4 charting software to see if there was anything happening on the markets tonight. At 8:30 I got into a ‘long’ position on my S&P500 chart and a few minutes ago I came out with quick 20 pip profit.

Daily Target Reached ?  YES  (+40 pips)       I traded late morning for a short while plus a couple of hours this evening