09:05am  ~  After a busy weekend I have a fairly quiet morning here at home with some emailing and Skype calls plus a bit of chart watching as well once the markets get going at the beginning of a new trading week. I will report back if I have any trades before lunchtime.

We shall have to wait and see if any fundamental drivers move the markets one way or another this week but there are some pretty large technical hints as to where we may be heading. The one that stands out above all else is the Dow Jones 30 that has formed a support level around 16,735 which was a previous resistance point back in May coupled with some nice reversal candles on the daily chart pointing towards a bullish move up towards the 17,000 mark.  The wider S&P500 is also showing the same tendency and has already moved above the possible resistance at 1955 and the next stopping-off point looks like the all-time high of 1967.  The DJ30 and S&P finished the week at 16851 and 1961 respectively.

Gold has been trading in a narrow 20 point channel for a while now and traders are looking for some concrete reasons to go either long or short for a prolonged period.  If the Dow Jones does falter again at 17,000 this week we may see market participants turn to the yellow metal as an alternative investment. It finished barely changed on the week at $1316.

10:15am  ~  There’s not much happening on my charts so I am off for a short cycle ride to clear cobwebs.

11:05am  ~  Just got back and there’s an interesting set-up on the FTSE100 chart, not an instrument I would normally look at but I was scrolling through different instruments looking for any patterns that are included in my new “Master The Reversal” trading system manual.  I will report back in a minute if anything comes of it.

11:20am  ~  I am the market with a ‘short’ position on the FTSE100 using one of the new “MTR” strategies – the stop loss is 10 pips.

12:15pm  ~  Off for lunch now so I’ve come out of my earlier position – it’s done ok so happy to stop rather than let it run over the U.S. trading session open, I have managed +26 pips.

14:40pm  ~  Back from the Bell in Walberswick and as it’s a lovely afternoon I have some landscaping to do in the re-modelled garden.

17:10pm  ~   I’ve just got back inside and switched on this laptop to see if there are any “Trade With A Day Job” set-ups on my S&P500 chart and just seen a ‘long’ opportunity on the Gold chart – a trendFX strategy 3 pattern – so I am in the market with a 24 pip stop-loss.  Nothing on the S&P at the moment, it has lost all its volume at the moment and is just trading in a narrow range, very uninspiring.

19:10pm   ~  Just shut off my Gold trade, happy with a small +85 pip profit.

19:25pm   ~  Just got into a “Trade With A Day Job” before we are out for the evening – pretty standard set-up, students will get a screenshot.

20:55pm  ~  Just came out of the trade but the MT4 platform has just crashed so not sure on the exact score.  Update tomorrow – going out now it would seem….