Trading Diary & Market Update ~ Wednesday 12th February 2014

08:25am  ~  It looks as though I am going to be at home for most of today as I have meetings with builders and the accountant this morning, a clutch of Skype calls this afternoon plus the obligatory cycle ride at some stage. I shall report on any trades I have as well, when I get a chance to look at some charts.

News of yesterday’s U.S. market rally has mainly been attributed to Janet Yellen’s speech – reassuring markets that she’s not going to upset the apple cart as far as economic and monetary policy goes, but more likely it was the fact that  Republicans finally drew a line under one of the more enduring and long running  political stalemate of the past few months, when House leader John Boehner announced that Congress would be voting for a “clean” debt limit hike midway through the US trading session. The Dow Jones 30 finished 180 points up at 15979 last night but has now hit a minor resistance level so there maybe some shorting opportunities later today if you do trade that index.

Over here in the UK, today’s quarterly inflation report from the Bank of England should see tweaks to Governor Mark Carney’s policy, when  outlines the banks outlook for the UK economy. He has previously suggested the Bank’s base rate should not rise until we see unemployment get down to 7%, but this figure looks likely to be reached in the next few months instead of 2016 as was originally predicted.

11:45am  ~  No trading for me this morning as I’ve not been able to get in front of a computer screen for any meaningful time but I will be watching a few charts after l get back from lunch.

17:15pm  ~  Not much happening this afternoon on my charts while I was watching them just after the U.S. open so I ended up going out for a cycle ride.  I’ve just switched them back on to watch for any “Trade With A Day Job” set-ups.

21:10pm  ~  I had a reasonably busy evening on the trading front, my first trade with my evening system kicked off just after 5:30pm. That was stopped out at 18228 giving me -14 pips but I did have a second successful trade that I have just come out of. That gave me +23 pips, so I’ve ended up on the day.

Daily Target Reached ?  NO  (+9 pips)

 

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