09:20 CET (08:20am UK Time)  ~  A late start for me today and don’t I envisage much trading during the day, we’re taking our guests to Palma later on but I will be here at home this morning so if I do manage to do any chart watching I’ll report back here.

Markets are in a generally good mood over in the U.S. after positive data and good earnings reports yesterday and contrasts heavily with indices here in Europe where lower than expected manufacturing and services numbers has underlined the fact that the Eurozone is close to recession once again although ECB president has reiterated his stance on propping up the economy and says he is currently accessing several scenarios – this is not giving traders much confidence though, his speech started a short while ago and the German Dax has reacted positively so far. Overnight Asian markets were generally optimistic after Japanese President Shinzo Abe dissolved parliament in preparation for an election where he will ask the population for a fresh mandate for his struggling economic revival policy.

Not much happening in the Oil market, most traders are waiting for the OPEC meeting next week to give them a clue as to whether they should be buying or selling – U.S. Crude ended up overall yesterday, currently sitting around $3 ahead of the support level at $73.25 and over in the UK Brent Crude is mirroring that performance.  Gold is still on a generally upward slant as moves away from the low of $1132 of a few weeks ago and the Christmas buying season will be gathering momentum in the next week or so, giving a boost to its value.

Market Close Thursday 20th November 2014:   Dow Jones 30  +33.27 @ 17,719.00  S&P 500  +4.03 @ 2,052.75  NASDAQ  +19.43 @ 4,242.09  FTSE 100  -17.70 @ 6,678.90  UK AIM  +1.43 @ 717.58  DAX 30  +11.17 @ 9,483.97  CAC 40  -31.98 @4,234.21  IBEX -167.60 @ 10,209.20   Nikkei 225 (Today)  +56.65 @ 17,357.51  Hang Seng (currently)  +104.87  @ 23,454.51

11:15am  ~  I’ve had a couple of looks at my charts during this morning but nothing much happening so that’s it until this evening – one of the weekend guests wants to see my “Trade With A Day Job” working live.

19:40pm  ~  Just got back home and going to watch my TWADJ chart with an interested onlooker.

20:15pm  ~  In a ‘short’ S&P 500 position with a 16 pip stop loss.

20:40pm  ~  We are off out now so I’ve closed the trade off at +28 pips.

08:30am CET (07:30am UK time)  ~  Friends arriving from the UK this morning so I will around the house to watch btc charts now and then – I will report back here if I have any trades.

Markets had quite a ‘flat’ day yesterday, the Fed minutes did not really give us any new news with chief Janet Yellen reiterating that U.S. interest rates is going stay on hold for the foreseeable future, probably meaning the middle to end of 2015. The S&P500 initially spiked down but then spent the rest of the session making up that ground and like the Dow Jones 30, it finished largely neutral. Overnight in Asia, shares were mixed after trade data from Japan showed that global demand for their exports had picked-up considerably – the year on year rise for October was 9.6% compared with 6.9% in September. Over in China, their factory sector has slowed this month, this is the first contraction since May.

I am not sure what’s going on in the Oil market, U.S. Crude inventories came in much higher than expected plus news that the leading OPEC member Saudi Arabia has stated that it will not cut production in the face of falling global demand – and these two pieces of news should have sent the market south but the price is still hovering around last week’s value of $74.00.

Market Close Wednesday 19th November 2014:   Dow Jones 30  -2.09 @ 17,685.73  S&P 500  -3.08 @ 2,048.72  NASDAQ  -19.52 @ 4,222.66  FTSE 100  -12.53 @ 6,69.60  UK AIM  -2.46 @ 716.15  DAX 30  +16.27 @ 9,472.80  CAC 40  +3.81 @4,266.19  IBEX -56.10 @ 10,376.80   Nikkei 225 (Today)  +12.11 @ 17,300.86  Hang Seng (currently)  +20.55  @ 23,393.86

All times below are Central European Time (GMT +1hr)

08:40am  ~  There was a UTB setting up on my FTSE 100 chart last night, so I am just waiting to see if it drops down below 6700 this morning when the London markets opens soon.

09:10am  ~  My UTB position has just triggered, so I’m the FTSE 100 with a whopping 14 pip stop loss.

12:05pm  ~  Happy with the recent price movement that’s occurred on my FTSE chart and also friends have just arrived so I am now out of the trade with +50 pips.

15:40pm  ~  Just got into a ‘long’ UTB trade on my Dax chart as I was sitting here in the study doing some emails. The stop loss is 27 pips.

23:05pm  ~  Came out of my Dax UTB trade earlier just before we went out for the evening — result was +78 pips and another profit for this reliable pattern.

08:45am CET (07:45 UK time)  ~  I’m going to be at home this morning dealing with my burgeoning inbox and then we’re off for a short sail after lunch. I’ll report back if I have any trades.

Markets are still rising with the Dow Jones 30 index finishing at another record high last night, although this morning’s movements might be more subdued ahead of today’s FOMC meeting where traders may glean some clues as to the timing of the forthcoming Fed rate rise.  The S&P 500 was also at record-breaking levels, over the past 5 weeks the index has risen over 178 points, or 1780 pips if you’ve traded your way up recently. There is also the result of the Bank Of England’s last interest rate vote which is going to give traders in the UK clues about the bank’s thoughts in the coming months – expectations are that rates are going to be on hold until at least the middle of 2015 as a result of the Eurozone economic slowdown.  The German Dax is still on its way up after the price-reversal in the middle of October and this week it has risen above the recent 9450 resistance level, partly due to the ECB President Mario Draghi seemingly becoming more serious about propping up the EU’s economy.

Crude Oil is still under pressure as rumours that OPEC will not reduce output at their meeting next week even though global demand is falling, the feeling is that WTI Crude could move down to around $70 by the end of next week unless the Arabs see the wider picture and cut production  Gold was buoyed yesterday by massive Russian buying, it rose more than $16 by the end of Tuesday’s session, Putin is hedging his bets by adding to his country’s reserves. The price is now well above the important $1180 level although there maybe some profit-taking today.

Market Close Tuesday 18th November 2014:   Dow Jones 30  +40.07 @ 17,687.82  S&P 500  +10.48 @ 2,051.80  NASDAQ  +28.40 @ 4,242.19  FTSE 100  +37.16 @ 6,709.13  UK AIM  +2.20 @ 718.61  DAX 30  +150.18 @ 9,456.53  CAC 40  +36.28 @4,262.38  IBEX +123.90 @ 10,432.90   Nikkei 225 (Today)  -55.31 @ 17,288.75  Hang Seng (currently)  -150.12  @ 23,379.05

All times below are Central European Time (CET) 1hr ahead of GMT

08:55am ~  Just had a quick two minute scroll through a group of 9 charts and there’s not much happening on the markets so far as far as my strategies are concerned, so I’m off on a cycle ride for an hour – target 25 miles.

11:55am  ~  Not any opportunities yet on my charts, but there maybe a ‘long’ trendFX trade setting up on my WTI Crude chart ahead of the U.S. Oil Inventories release at 16:30pm.

12:40pm  ~ The WTI Crude price has risen sufficiently to trigger my ‘long’ trade so I’m in the market with a 30 pip stop loss.

14:00pm  ~  I am off out to the marina in a minute for the rest of the day so I’ve set my stop loss and take profit levels as the Oil market may get volatile as the afternoon develops. I have set the profit level at 30 pips but brought the stop loss up tighter at -20 pips, just below where it is now.

23:05pm  ~ Got back a short while ago and just seen that my earlier trade on WTI Crude was closed off with a +30 pip profit.

08:15am  CET  ~  Subject to the ups and downs of Spanish internet I shall be here in the study this morning doing emails/Skype calls/chart watching – or down at the beach if it all goes the same way as yesterday…

The markets in the U.S. continued to move upwards and onwards yesterday as they shrugged aside the large falls in Japan early on Monday morning – the Dow Jones was up 13 points at the close but there does seem to be a temporary ceiling at 17,700. The wider S&P 500 index has been hovering around it’s current level for the last week so it could signal a slight move down before the pre-xmas rally resumes. After the sudden fall yesterday, the Japanese Nikkei 225 recovered slightly, moving up 370 points equivalent to over 2% although elsewhere in Asia, Hong Kong and Chinese shares fell for a second day after the debut of the new Hong Kong-Shanghai trading link as traders continued to take profits after the sharp rise in the past week  Pessimistic  Chinese home prices data also kept sentiment in check.

There is still too much supply in the Crude Oil market although the U.S. WTI Crude price held quite yesterday, forming a Doji on the daily chart as it bounces around the record low just above $73 – commodity traders are now looking towards the OPEC meeting next Thursday.  The 13 members of OPEC usually meet around twice a year and as a group, they control around 40% of the world’s oil production, so they do have a big influence on price and output. With the dramatic fall in price in the past few months cause dby falling Asian demand together with the success of the U.S. fracking scheme means that this meeting will be more closely watched than normal.

Market Close Monday 17th November 2014:   Dow Jones 30  +13.01 @ 17,647.75  S&P 500  +1.50 @ 2,041.32  NASDAQ  -11.20 @ 4,213.79  FTSE 100  +17.60 @ 6,671.97  UK AIM  -0.04 @ 716.41  DAX 30  +53.41 @ 9,306.35  CAC 40  +23.64 @4,226.10  IBEX  +161.00 @ 10,309.00   Nikkei 225 (Today)  +370.26 @ 17,344.06  Hang Seng (currently)  -224.48  @ 23,572.60

All times below are Central European Time (CET)

11:20am  ~  It’s been reasonably quiet this morning on my charts — but there does seem to be a UTB ‘short’ opportunity setting up on my Brent Crude chart.

11:30am ~  If the price goes below 7963 a ‘short’ will be triggered. Stop loss will be around 33 pips.

11:55am  ~  The price did drop enough and I’ve been a ‘short’ position for a while now, currently the trade is sitting at +6 pips.

15:05pm  ~  I am still in my Brent Crude trade and there’s now a possible ‘long’ opportunity setting up on the S&P500 – it’s a trendFX strategy 3 pattern. Just missed a ‘long’ on my Dax 30 chart, I was outside enjoying the midday sun !

15:40pm  ~  Now in a 2nd trade, the aforementioned S&P 500 position.

16:25pm  ~  The S&P has shot up nicely but the upward momentum is slowing and profit-takers have come out in strength, so I am now out out of my position. I have managed +48 pips.  The Brent trade is currently hovering around +100 pips.

16:40pm  ~  The Brent Crude price has hit a temporary support it would seem so I’ve just come out of my position as I am happy with +114 pips.

08:55am CET (07:55 UK time)  ~  A nice lazy start to the week and that theme is going to continue as I shall be her at home for most of the day catching up on emails and doing a bit of chart watching.

The markets today are going to be dominated by news overnight of the Japanese Nikkei index’s biggest one day fall for 3 months, it fell over 500 points to end just under 17,000. This was prompted by profit-taking after Japan’s unexpected fall into recession following 3rd quarter numbers that show an annualised 1.6% fall in their economy and recent gains were cashed in by traders overnight. This surprise fall in GDP figures has encourage the Japanese Prime Minister Shinzo Abe to call a snap-election and also postpone the mooted retail sales rise. Here in Europe, David Cameron has warned that the UK economy may suffer in the near future from the growing EU problems together with other worldwide problems – Ebola, Ukraine, Asian slowdown etc. although some say he’s getting his excuses in early ahead of the upcoming Autumn Statement and next year’s general election.

The Gold fall that’s been in progress since September 2011 looks to be slowing slightly and the low from a week ago  at $1130 looks to be a support level now but the next 5 days will confirm this theory. Not such a happy outlook for the price of Crude Oil with production still at relatively high levels amid slowing demand worldwide, U.S WTI Crude hit a 4-year low on Friday of $73.25 but quickly bounced back to $75.89 at the close although the price is under pressure again this morning as traders look towards the OPEC meeting next week.

Market Close Friday 14th November 2014:   Dow Jones 30  -18:05 @ 17,634.74  S&P 500  +0.49 @ 2,039.82  NASDAQ  +11.50 @ 4,224.99  FTSE 100  +18.92 @ 6,654.37  UK AIM  -2.12 @ 716.45  DAX 30  +4.43 @ 9,252.94  CAC 40  +14.51 @4,202.46  IBEX  +7.60 @ 10,148.80  Nikkei 225 (Today)  -507.03 @ 16,973.80  Hang Seng (currently)  -245.86  @ 23,841.52

All times below are Central European Time (CET)

13:45pm  ~  Been having problems with my internet this morning – absolutely no broadband coverage here so no trading/emailing etc.  It seems ok now so I shall start looking at my charts to see what I’ve been missing.

14:35pm  ~  Not much occurring so far today although there does look like a possible UTB setting up on the German Dax 30 chart.

15:10pm  ~  Just entered a ‘short’ position on my Dax chart, the stop loss is 17 pips. Just a quick trade as Mario Draghi is speaking at the moment so the market could take off one way or the other as anytime.

15:45pm ~  I am now out with a quick +20 pips profit.  There was also a UTB opportunity on the French CAC40 chart at exactly the same time but as I’ve mentioned before, the movement on this index is not as good as the German index so if there’s a choice of the two, try to take the Dax.

17:50pm  ~  Going to watch my S&P500 chart to see if there are any “Trade With A Day Job” opportunities, the strategy kicks off soon.

18:10pm  ~  In a ‘short’ position with a 24 pip stop loss.

23:05pm  ~  More problems with our internet here so not been able to update this diary – but I can now tell you that my earlier S&P 500 trade was stopped out at -24 pips.

22:05pm CET  ~  We’ve been sightseeing all day so no chart watching until this evening when I did have one “Trade With A Day Job” trade just before 7pm.  It was a ‘short’ position on the S&P 500 and I came away with +67 pips.

08:10am CET (7:10am UK Time)  ~  Will be here in the study for a few hours this morning doing emails etc. and then I’m off for three days to see a trader friend (Brendan) at his place in Ibiza – not quite sure whether we’ll be trading or not though.

With the markets in the U.S. taking a breather yesterday due to Veteran’s Day, there was not much direction for Europe but all should change today as we have a raft of economic numbers and Central Bank thoughts from the UK, Europe and U.S. kicking off at 9am with Federal Reserve member Charles Plosser who is speaking at the UBS European Conference in London.  Traders will be listening carefully for any hints about future monetary policy and this may have a small affect on the markets.  Asian markets overnight were generally bullish with the Japanese benchmark index, the Nikkei 225 rising on unconfirmed speculation that Japanese Prime Minister Shinzo Abe may delay a second sales tax rise to avoid damaging Japan’s fragile  economic recovery, and also call a snap election to confirm he his the chosen leader for the people.

Gold has made a move off the recent lows of $1130 but technical indicators suggest that a move back down is on the cards in the near future and with U.S. Dollar strength and low inflation in Europe and across the Atlantic there are no real reasons for any bullish optimism.  Crude Oil is also on a bearish slant although yesterday’s Veteran’s Day curbed trading in the U.S. but the WTI chart still hints at a move back towards the $76 support level.  In the UK, Brent Oil is right on a 2010 support level at $80:35 so we may see a small bounce as bargain-hunters emerge briefly, but U.S. inventory numbers are going to give the market direction to the end of the week.

Market Close Tuesday 11th November 2014:   Dow Jones 30  +1.16 @ 17,614.90  S&P 500  +1.42 @ 2,039.68  NASDAQ  +11.22 @ 4,187.16  FTSE 100  +16.15 @ 6,627.40  UK AIM  -1.86 @ 721.40  DAX 30  +17.16 @ 9,369.03  CAC 40  +21.28 @4,244.10  IBEX  +65.80 @ 10,338.80  Nikkei 225 (Today)  +72.94 @ 17,197.05  Hang Seng (currently)  +90.32  @ 23,898.60

10:45am CET  ~  Had a quick look at my charts a few times this morning but no opportunities but I’m off now so no trades to report for today.

08:35am CET (07:35 UK time)  ~  After a busy few days away it’s going to be a relaxing day at home with some chart watching every hour or so plus finishing off my Trading Psychology book and catching up on the past few day’s emails.  I will report back if I have any trades during the day.

Since I’ve been away the markets have sat up and once again shot up –  Asian markets overnight have witnessed solid gains and U.S. indices  reaching another record level after yesterday’s session on the back of good corporate earnings releases coupled with positive economic data (plus continued low interest rates)  The Dow Jones finished its session last night at 17613 and over night futures trading has pushed it up to 17626 as I write this. Its ‘sister’ index, the Standard & Poors 500 gained 6.34 points yesterday to finish at  2038.26 so it is firmly above the significant 2000 level and maybe ready for a slight pullback in the next few days after four days of solid gains although today’s markets in general will be quieter than usual for a Tuesday as both the U.S. and France are commemorating Remembrance Day.

Although we’ve not yet had U.S. Crude Oil stock level number for last week announced yet, the general feeling in the market is of too much stock and not enough demand and this situation is keeping a lid on any price rises at the moment. U.S. WTI Crude suffered another day of losses, ending firmly below the $79 level and looking as though it is heading for the support at $75:89 that was formed last week, a 3-year low for the commodity.  UK Brent Crude is following closely behind, finishing Monday’s session at  $81:89.  Gold was also in a bearish mood yesterday after a brief rebound on Friday, it lost over $25 and seems to be on a course towards Friday’s low of $1131 unless bargain hunters step in to give the commodity a brief respite.

Market Close Monday 10th November 2014:   Dow Jones 30  +39.81 @ 17,613.74  S&P 500  +6.34 @ 2,038.26  NASDAQ  +15.44 @ 4,175.95  FTSE 100  +44.01 @ 6,611.25  UK AIM  +1.41 @ 723.26  DAX 30  +60.04 @ 9,51.87  CAC 40  +32.93 @4,222.82  IBEX  +146.70 @ 10,273.00  Nikkei 225 (Today)  +343.58 @ 17,124.11  Hang Seng (currently)  +56.35  @ 23,801.05

All times below are Central European Time (CET) 1hr ahead of UK time.

08:50am ~  Off for quick cycle ride to clear the cobwebs, back in an hour.

09:55am  ~  Just switched on my charts and there’s a possible UTB trade setting up on my WTI Crude chart.

10:1oam  ~  I am in a ‘long’ position on the WTI chart with a 22 pip stop loss.

11:25am  ~  The WTI price rose quite well initially but has now tailed off slightly so I am out of my UTB position with a +31 pip profit.

15:40pm  ~  Back from a typically long Spanish lunch and I shall watch my charts for a while to see if there’s much going on – report back later.

16:25pm  ~  There’s something occurring on my Gold chart – and possibly Brent Oil as well. Both are trendFX set-ups.

17:10pm  ~  I am now in a ‘short’ position on my Brent Oil chart, the stop loss is 38 pips.  The Gold price has not yet moved sufficiently to trigger a trade.

17:25pm  ~  It has now !  I am in a ‘long’ position on my Gold chart with a 55 pip stop loss, which is quite large for a normal trendFX trade.

18:15pm  ~  Happy with Gold trade – out now with a +71 pip profit.

18:25pm  ~  Just come out of the Brent position as well now, the downward momentum has somewhat dissipated – the result +38 pips. That’s me done with trading for the day – and just had news of an invitation from Brendan, an Irish trader friend who’s invited me over to his place for a few days – we may even get some trading done. He lives in Santa Eularia on Ibiza, I’m flying over in the morning.

09:15am CET  ~  Away for a few days so no trading or update on Monday morning, back home later in the day so next update on Tuesday 11th.

09:45am CET (08:45 UK time)  ~  A very late start for me after a party in town last night and a quiet day ahead on the trading front as it’s Non Farm Payrolls day in the U.S. so I will not be watching any charts today – instead I’m helping the builders on their last day here.

Ahead of the U.S. employment numbers at lunchtime, equities across the Atlantic broke free from their previous resistance levels and surged upwards once again to confirm (from a technical point of view) the year-end rally is more on than off — today’s job’s figures may well help this recent bullish sentiment regarding their economy, all will be revealed in a few hours.  The FTSE 100 staged a small retrace at the beginning of the week but has resumed it’s march upwards, gaining a modest 12 points yesterday and is now well above the support/resistance at 6520, so optimism seems to be the order of the day in the City of London’s trading floor as well. Over here in Europe the mood is not so encouraging with traders waiting patiently for Mario Draghi and the ECB to kickstart the EU’s economy and with it mind he did announce yesterday limited measures in the form of purchasing Asset Backed Securities (ABS) with a hope this alone will stave off deflation in the region.

Crude Oil weekly charts show the price decline is still in full swing although the last couple of days has seen the emergence of a short term support level for both the U.S. WTI Crude and Brent, but values are still under pressure from cheap U.S. fracked oil and OPEC’s recent low-price policy and the next stop for U.S. crude will be the 2011 level of $75:50.

Market Close Thusday 6th November 2014:   Dow Jones 30  +69.94 @ 17,554.47  S&P 500  +7.64 @ 2,031.21  NASDAQ  +10.81 @ 4,164.08  FTSE 100  +12.01 @ 6,551.15  UK AIM  +5.55 @ 721.75  DAX 30  +61.93 @ 9,377.41  CAC 40  +19.26 @4,227.68  IBEX  -15.10 @ 10,261.80  Nikkei 225 (Today)  +87.90 @ 16,880.38  Hang Seng (Today)  -77.20  @ 23,572.11