07:25am  Daily ‘Trading-Guidance’ email has just been sent off and I’m now going to sit down and reply to emails for the next few hours. I shall be in and out of the house for most of today so not sure how much chart watching I’ll manage but if do have any trades I will report them here.

Market Update:

Leading the news once again is the up and down negotiations between the Greek anti-austerity Syriza party and the IMF/ECB. Prime Minister Alexis Tzi[ras has submitted some ‘new’ proposals which are so far from any kind of compromise that many commentators are saying that they’re just playing for time to see if Merkel and Holland come back with softer terms. What is certain is that the talks are going to carry on until the end of this month when the next loan repayment is due.

As I mentioned this morning in my ‘Trading-Guidance’ email, it is noticeable that equity markets are starting to lose their bullish momentum and the Greek situation is no doubt contributing to this sentiment as well as an improving U.S. economy weighing on the Fed’s rate rise decision and a slowing in China. This downward movement in the markets is helping the Gold price though, it was trading nearly $2.50 higher yesterday, finishing the session at $1176.59 and the daily chart is showing signs that the $1170 support level is holding strong at the moment.

Trading Diary:

10:45am  Got into a ‘long’ position on the S&P 500 a few minutes ago – it’s a trendFX strategy-3 set-up with a 48 pip stop loss.

11:55am    There’s a ‘long’ opportunity that’s just about to trigger on my WTI crude chart but there are the U.S. Crude Inventory numbers out soon so I’ll leave it alone.

13:30pm   Off to The Swan for lunch now but I’ve left the S&P 500 trade’s stop loss where it is as the price is still around break even, it has not really taken off yet in the direction I thought it would.

14:45pm    Back from lunch and my S&P position is currently at +36 pips so I’ll stay in the market for a while and see how much further the price rises.

16:20pm    Going off for a late afternoon cycle ride with a few friends so I’ve closed off my S&P 500 position at +190 pips.  I will send my chart screenshot to customers when I get back.