07:40am   Relatively early start for me today as I’m playing golf later this morning after a couple of hours of emailing first.

Market Update:

The overnight Asian trading session ended mixed with the Japanese Nikkei 225 up nearly 2% but Chinese indices suffered from a bout of late selling which resulted in negative scores for Wednesday. Last night in the U.S. both the Dow Jones 30 and wider S&P 500 finished very slightly down with levels being affected by the autumn reporting season. Amongst companies reporting yesterday was computer giant IBM who announced continued revenue falls which resulted in a 5% drop in the share price and today there are results from Ebay, Coca Cola and Boeing among others.  Also, car enthusiasts such as myself will be watching with interest Ferrari’s debut on the New York Stock Exchange later today – will parent company Fiat/Chrysler consider floats for Ducati and Maserati as well ?

Gold suffered from a bout of profit taking this week but as the price hit the 200 moving average early yesterday it bounced back up and ended Tuesday’s session $4.70 (+0.5%) up at $1175.30 – so price movement over the next few days will confirm whether the significant 200MA level will hold. As usual for a Wednesday, Crude Oil traders will be watching U.S. Crude Inventory levels this afternoon for clues on direction for the rest of the week, WTI Crude ended yesterday’s session 46 cents down at $45.90 with UK Brent falling a similiar amount.

 Trading Diary:

08:15am   As you would expect, there’s nothing much to see on the charts as the European trading session gets underway so I am off for a cycle ride for an hour or so now.

10:05am   Brief look at charts but nothing to get excited about – off for game of golf now.

13:45pm   Been back a little while and I’ve just got into a ‘short’ UTB trade on my S&P 500 chart. My stop loss is better than it should have been due to my late entry, it is just 18 pips.

16:25pm   The S&P 500 price has come down quite nicely but for some reason it has become volatile in the past 30 minutes so I am now out of my position.  My score is +45 pips and I will send over a chart screenshot with my ‘Nick’s Trades’ email later this evening.

17:50pm   No more trades – back to the Golf Club now for the evening