08:05am CET (07:05 UK)  ~  Does not look like there will be much time for chart watching today, I am off to Palma in an hour to sort out a new car I ordered back in July then some shopping while over there as well. Maybe be back in time for the evening session.

The main market news from the end of last week is the upbeat U.S. jobs data from Friday’s Non Farm Payrolls announcement. The U.S. economy added more jobs than was expected and that triggered a rally in the main indices over there, the Dow Jones 30 ended over 17,000 once again after being in the doldrums for most of the week. Usually good news for the economy has been bad for the markets as optimism gives the Federal Reserve an excuse to start raising interest rates, something that it has been threatening now for quite a few months and is tipped for early next year, ahead of a rise from the Bank Of England.  Over here in Europe there is predicted to be bleak numbers out today in the form of German Factory Orders, PMI numbers and Investor Confidence and the expected sentiment is generally bearish which you would think should push ECB President Mario Draghi into some sort of decision over economic stimulus but the markets will be surprised if he does make any kind of announcement – watch the direction of the German Dax and French CAC closely today, there should be some trading opportunities.

Those with a keen eye may spot that I have included the Spanish Ibex index in the market Close figures below, partly because I keep an eye on it while I’m living out here, and partly because a growing number of students have asked about trading it so I am formulating some ideas although it is traditionally a volatile chart to trade – watch this space.

On the Oil markets Saudi Aramco, the Saudi Arabian state oil producer, has signalled they are reducing the price of crude which is going to start a price war with other OPEC nations and no doubt will then spill over to the rest of the world in time. WTI Crude dropped nearly $2 on the news at the end of the week, finishing just below $90 and expect further falls this week as there is also large stocks and falling demand to keep the price down.

Market Close Friday 3rd Oct. 2014:  Dow Jones 30  +208.64 @ 17,009.69  S&P 500  +21.73 @ 1,967.90  NASDAQ  +41.44 @4,027.31  FTSE 100  +81.52 @ 6,527.91  DAX 30  -186.35 @ 9,195.68  CAC 40  +39.07 @ 4,281.74  IBEX +149.50 @10,567.60