07:20am   Just sent off my daily ‘Trading-Guidance’ email to subscribers and now for the rest of the morning I shall be here in the study catching up on emails and doing some chart watching – then out to London for meetings later this afternoon.

Market Update:

Overnight the Asian markets enjoyed more optimism following overall sentiment that the Fed is going to hold their borrowing rate at its record low for a bit longer. The Japanese Nikkei 225 index rallied around 1% during the Asian session following on from the Dow Jones 30 rise on Monday of around 300 points. There is a general feeling that governments are going to do whatever is needed to prop up their respective economies and this sentiment is keeping markets on a more optimistic footing rather than relying on the traditional ways of simply being a profitable enterprise – interesting times nonetheless.

Over on the Oil market there was a shift by traders out of their Long positions as news filtered through of an increase in Russian output – although U.S. WTI Crude price ended slightly up on the day, there were sharp losses from mid-afternoon and this morning the sentiment is still very bearish.

Trading Diary:

08:45am    Nothing much to see on my collection of favourite charts so I am off for a cycle ride along the beach path.

11:55am   Been back a few hours and there’s been nothing of note on my charts so far this morning so it’s some shopping in town and then lunch.