10:30am (CET)  ~  Two reasons for not trading today, firstly it’s the first Friday of the month so it is Non Farm Payrolls Day in the U.S. so traditionally I never bother with the markets due to the way they behave today and secondly I’m in Majorca for a few days sorting some stuff out – I shall get back to some chart watching next Tuesday when back in the UK.

There’s been a positive start to the trading day over here in Europe as there seems to be an optimistic view of today’s U.S. employment numbers and traders seemed have shrugged off worries for the economy that the Feds tapering of fiscal stimulus posed since the beginning of the year. All eyes will be on the Dow & S&P500 charts at 1:30pm UK time to see what investors do with their money after the Non Farm Payroll numbers are revealed.

With the continued rise in equities this week, Gold has predictably fallen out of favour in the short term, it lost another $4 yesterday, down to $1287 although it has started well this morning and is now at $1291.