13:10pm  ~  I arrived home from my weekend trip an hour ago and I’ve just had a quick look at my charts to catch-up on what the markets have been doing since Friday.

Looks like the U.S. markets have just drifted around today, probably waiting for the FOMC statement tomorrow, and yesterday the markets were initially euphoric when news of Larry Summers had ended his campaign to be the next Fed chairman when Ben Bernanke retires in 2014, but this excitement soon cooled and both the Dow Jones 30 and the S&P500 ended the day roughly where they started.

With the crisis in Syria becoming less of a world threat by the day, Oil prices are starting to get down levels we saw at the beginning of the month after reaching 2011 highs. Gold is also seeing buyers disappear for the moment, there is not such a rush into ‘safe-haven’ commodities, a phenomena that often occurs when global tensions rise. We are around a short term support level at 13065 so we will either see a move upwards or a dive lower to the 13000 level – use my “Any-Time” system to flush out any trades that come up due to this situation.

As it’s very close to the U.S. market open at the moment I’m not going to look for any trades, as usually it’s quite volatile at this time of the day although I would expect an initial move upwards in the next hour or so if the S&P500 breaks the 1700 mark.

14:15pm  ~  I couldn’t resist it….   I was just looking at my S&P500 chart while answering a customer’s question and I could see a potential trade coming up with one of the trendFX strategies, and the result is I am now in a ‘long’ trade on the S&P at 17022 !  Obviously report back later with the outcome.

16:10pm  ~  Just exited my S&P500 ‘long’ position at 17062, although there maybe more upside to this afternoon’s move on the index, I’ve got 40 pips out of the market so that’s more than enough for me. I’ve got a few more emails to do plus a Skype call with a budding trader and them I’m off to do some food shopping.

Daily Target Reached ?  YES  (+40 pips)       I traded for two hours this afternoon