08:40am    I am at home for most of today so any trades I take will be detailed below.

Market Update:

The relentless rise of U.S. equity markets slowed slightly yesterday, the Dow Jones index of 30 top companies closed up 59 points to another new high which was a better result than the S&P-500 which was up by just 1.78 points – this sentiment was mainly attributed to concerns over improving economic data which is pointing towards a rate hike next month. Asian markets ended mixed earlier this morning although the Nikkei-225 index was up after the Japanese bank holiday on Wednesday on Yen weakness which is good for exporters.

Crude oil markets have taken a breather after a good rise up on optimism for an OPEC production cut, but U.S. WTI Crude seems to be reluctant to rise above the $49:00 level still and UK Brent Crude is in the same position although $50 seems to be the resistance currently. Gold is continuing its fall from the $1300 level at the beginning of November – it dropped over $30 during yesterday’s session to close at $1188:05 and is further down this morning at $1187:60.

European markets are opening mixed this morning and with little economic news out through the day we could have a quiet session until the U.S. markets open in around 6-hours time.

Trading Diary:

09:10am   I had planned to be at home in front of my charts this morning but just been invited out for a game of golf  -  just a quick 9-holes so back in 2 to 3 hours.

12:50pm   While I’ve been out the markets have just drifted around, mainly due to low trading volumes caused by the U.S. bank holiday today – I am going to call it a day and close off my charts as I do not expect the situation to improve any time soon, back here tomorrow for a few hours.