07:35am  ~  I am back in the UK now, we arrived yesterday evening and today I will be catching up on emails and doing some chart watching as well. I’ll report back later with any trades I find.

The U.S. indices are again at record levels after last night’s close although both the Dow Jones 30 and the S&P500 have formed reversal candles on the daily charts. Over here in Europe, the German Dax30 index has closed above the significant 10,000 level for the first time ever and investors will now watch carefully to see if it now forms a support for a higher movement.  With many traders holding paper profits at the moment, the smallest hint of a correction will have a lot of market participants reaching for their ‘sell’ buttons to lock in the large gains from May.  The DJ30 ended at 16940 after getting close to the 17000 level during intraday trading and any move down from 1946 on the S&P500 will signal a bearish trading opportunity.

With China’s exports rising more than anticipated, and the fact that the US economic outlook keeps improving you can see why investors are optimistic about global growth and yesterday the energy market reacted well to this sentiment. The WTI crude oil prices had a sharp rally, up $1.78 to $104.55 a barrel. This rise was also supported by reports that political tensions in Libya could well disrupt oil supplies.  The good news about the US economy countered by German investor’s optimism that fell to 8.5 against a prediction of 13.3 boosted demand for Gold initially, meaning the large sell-off was temporarily halted during yesterday’s session. It ended flat at $1252 after a bullish European session and a weak performance later in the day when U.S. traders drove the price down again – once again there’s a reversal candle on the daily chart sitting right on a moving average resistance point, so watch for a move down past $1250 signalling another sell-off down towards the support at $1240.

09:45am  ~  Not much occurring on my charts at the moment, so I’m going off for a cycle ride for a couple of hours – up towards Lowestoft on the coastal path, around 25 miles there and back.  I have a Skype call with a new trader at midday so I shall be back before then plus meetings with builders up the road at 2pm.

16:05pm  ~  Just got back from the builders meeting so I shall be watching my S&P500 chart soon for any “Trade With A Day Job” set-ups after 5 o’clock.

18:20pm  ~  There could be a trade setting up, should see it in the next 5 minutes.

18:35pm  ~  In the market with a ‘long’ position.  Stop loss is a heady 13 pips !

20:05pm  ~  Doing ok, I’m at +15 pips so far.

20:25pm  ~  Friends have arrived for a poker evening so I am now out of the trade at +25 pips