07:55am CET (06:55 UK )  ~  Nothing much planned for today – so emails and some chart watching before together with a cycle ride and also some time writing my up my new trading psychology book.  I have a trader friend arriving this afternoon so I’ll go to Palma airport to pick him up.

If you seen any charts in the last 12 hours you cannot fail to notice the large bullish move that occurred last night around 6pm UK time around the time that the U.S. Federal Reserve’s FOMC released the minutes from their latest meeting – and the general feeling was that the U.S. economy is not quite ready for an interest rate rise that was widely expected to be coming up in the next few months.  This sentiment spilled over to the foreign exchange markets as you would imagine and the Euro rose against the Dollar by 65 pips to 1.2735 although there is a speech in Washington by the European Central Bank President Mario Draghi today.  Asian markets also rose overnight on the Fed’s news with the Japanese Yen also rising against the Dollar which is not good news for exporters over there though. Other news released in the U.S. was the weekly Crude Oil stock situation at Cushing and this week’s numbers showed an increase in barrel numbers of 5 million, nearly 3 million barrels higher than expected which caused a sharp drop in its value, falling by the end of the session by 73 cents to $87.72 and over in the UK, Brent Crude also fell mid afternoon but regained all those losses back by the close of the European session – it is now getting close to its next support level at $89.40.

Market Close Wednesday 8th Oct. 2014:  Dow Jones 30  +274.83 @ 16,994.22  S&P 500  +33.79 @ 1,96.89  NASDAQ  +82.53 @ 4,041.12  FTSE 100  +13.34 @ 6,482.24  DAX 30  -90.81 @ 8,995.33  CAC 40  -41.02 @ 4,168.12  IBEX -91.70 @10,339.00

11:50am (CET)  ~  Just got back from a short ride over to Pollensa village and I’m going to continue watching my charts until I’m off after lunch – I have been watching them earlier this morning on and off but no opportunities have popped up.

11:55am  ~  Possible ‘short’ trade on my Dax chart – all the major indices seem to be getting ready for a down move at the moment.

12:15pm   ~  I am now in a ‘short’ position on my Dax 30 chart, it is a UTB set-up and my stop loss is 24 pips.

13:30pm  ~  Still in the trade, it’s currently at +48 pips and looking like it may drop further.

14:20pm  ~  I am off now to pick-up trader friend Charles and his wife from the airport so I’ve closed my Dax position off at 8992 giving me +99 pips – another successful UTB trade.

18:10pm  ~  Back home now and although we have guests I shall watch my S&P 500 chart while I’m here in the kitchen cooking supper for everyone – I just glance at it for a few seconds every 10-15 minutes.

20:00pm  ~  Finished here in the kitchen so I’m switching this laptop (& charts) off as well.

Daily Target  +20 pips

Pips Achieved  +99 pips

08:10am CET (07:10 UK)  ~  I am here in the study for a few hour this morning before a trip out to Soller for lunch and sightseeing. Before all that a cycle ride with neighbour Franz.

Asian markets followed the lead from U.S. equities last night and have headed lower overnight mainly due to IMF forecasts of lower growth for various world economies together with growing geo-political risk and the Ebola risk which seems to have been underestimated.  The International Monetary Fund has cut its overall outlook for the third time this year and is blaming weakness in certain EU countries together with gloomy economic forecasts from the likes of Japan and Brazil.  Here in Europe, German data out yesterday showed that its Industrial Output fell more than 4% in August when compared with the July figure – this resulted in the Dax 30 falling over 1% during Tuesday’s session ending at 9086.  In the U.S. the S&P 500 index fell to a two month low after the IMF, amongst other warnings, suggested that U.S. equities were just to expensive in their eyes – the Dow Jones also dropped, ending over 1.5% down by the close of the session.

News this morning has emerged that Russia’s Central Bank is selling some of its U.S. Dollar holding to try to prop up its own currency. The figure of 16.8 billion Rubles worth of Dollars is being bounced around as the effect of global sanctions starts to bite. Gold is extending its bullish move upwards with a host of good/bad news to keep investors in a buying m,ood – equity markets falling together with increased demand in India plus Chinese markets back after a long holiday break meant the price rose $1.20 to $1208.40 yesterday, although this morning it is sitting on a moving average resistance line that has held steady since the middle of August.

Market Close Tuesday 7th Oct. 2014:  Dow Jones 30  -272.52 @ 16,719.39  S&P 500  -29.72 @ 1,935.10  NASDAQ  -57.68 @3,958.59  FTSE 100  -68.07 @ 6,495.58  DAX 30  -123.30 @ 9,086.21  CAC 40  -77.38@ 4,209.14  IBEX -215.00 @10,430.70

11:00am  CET  ~  Been watching my charts for an hour or so now and the only opportunity that I can see at the moment is a possible UTB pattern on my WTI Crude chart. If the price goes up past 87.75 I will get into a ‘long’ position.

11:15am  ~  In a ‘long’ trade on my WTI chart, the stop loss is 23 pips.  Unusually the pattern has shown up on both the 15 minute and 1 hour chart.

11:55am  ~  Finally going to be dragged out of the house by the Blonde so as my WTI trade is still hovering around +3 pips I have organised an order to close the trade at a target of +30 pips and stop loss still at -23 pips. Let you know later how it gets on.

21:45pm  ~  Just got back home so no trading to report tonight, my earlier trade managed to get to its 30 pip target.

Daily Target  +20 pips

Pips Achieved  +30pips

08:15am CET (07:15 UK)  ~ There will be more chart watching today than there was yesterday, I shall be spending most of the day here at home – apart from a cycle ride with a neighbour up towards Cap de Formentor at 9 o’clock – and I shall also be sitting down here in the study to carry on with my forthcoming ‘Trading Psychology’ book.  I will report back later regarding any trades I take.

Both the S&P 500 and Dow Jones 30 indices have formed reversal candles on their daily charts yesterday and over here in Europe the main French and German indices are also in a broadly bearish mood – which is not going to correct itself until Mario Draghi, the ECB President, finally decides how he’s going to pull the EU region out of impending recession – then announce it. The UK’s FTSE 100 index had positive day yesterday after it bounced off the solid support level around 6400 on Friday so there maybe a move upwards this week towards 6700 as long as there’s not too much bad news coming from its major trading partners in Europe similiar to yesterday’s German factory orders which disappointed the market.

The U.S. WTI Crude Oil price shrugged off a looming price war within the OPEC nations and posted a rise above the significant $90 level yesterday after rumours of increased demand in the U.S. in the coming months as the weather settles into autumn although the daily chart does show the possibility of a further move down towards the $85 support point – surely a manageable target if OPEC carry out their threat of increased production.

Technical traders will have been pleased to see Gold’s bounce off the major $1180 support on Friday and so far it has stayed in a short term bullish mood, advancing over $15 yesterday finishing just under $1207 last night, watch out for more trading opportunities after any small pullbacks today.

Market Close Monday 6th Oct. 2014:  Dow Jones 30  -17.78 @ 16,991.91  S&P 500  -3.08 @ 1,964.82  NASDAQ  -11.04 @4,016.27  FTSE 100  +35.74 @ 6,563.65  DAX 30  +13.83 @ 9,209.51  CAC 40  +4.78@ 4,286.52  IBEX +78.10 @10,645.70

10:50am  (CET)  ~  Just back from a strenuous ride up and down the mountains so time to get down to emails and a bit of chart watching.

11:15am (CET)  ~  Now in a ‘short’ position on my Gold chart with my ever-reliable UTB pattern – stop loss is 28 pips.

11:55am  ~  I am now in a ‘long’ UTB position on my German Dax 30 chart, my stop loss on this trade is 25 pips.

14:15pm  ~  Off out to lunch in a minute so I’ve close off my Gold trade as I’m happy with the small profit, I have managed +31 pips.  Just taking a look at the Dax position to make a decision before I go out.

14:20pm  ~  My Dax trade has not quite hit its 1:1 profit target so I’ve moved the stop upto to break-even and set an order to close at +30 pips in case we have some volatility while I’m out for the next few hours.

16:00pm  ~  Just got back and can see my Dax trade did ok – out at my target of +30 pips.  The market has been quite volatile since I have been out.

18:10pm  ~  Been outside for the last few hours but indoors now and going to watch my S&P 500 chart for any “Trade With A Day Job” opportunities.

18:35pm  ~  Nothing happening with the TWADJ strategy but I am now in a ‘short’ on the S&P with a trendFX set-up. My stop loss is 31 pips.

19:10pm  (CET) ~  Nice quick trade – out a few minutes ago with +40 pips.

20:05pm (CET)  ~  I have kept my S&P chart on while I’m cooking supper for friends and I’m now in a ‘short’ position with one of the “Trade With A Day Job” Set-ups. Stop loss 22 pips.

21:10pm  ~  The S&P has come down nicely so I am now out of my position with a +90 pip profit.

Daily Target  +20 pips

Pips Achieved  +191 pips

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

08:35am  ~  A lazy start for me today and as it is Non Farm Payrolls Day I shall not be doing any trading now until next week – as usual the markets will be quiet this morning and then shoot off in one direction or another (or probably both) at 1:30pm UK time.  Later today we are off to Majorca as autumn weather seems to be gathering pace so warmer climes are beckoning.

Overnight markets in Asian have seen a slight correction upwards despite continuing problems in Hong Kong although there does seem to be some negotiation between protesters and Chinese leaders coming up in the next few days but here in Europe equities finished sharply down after ECB President Mario Draghi failed to reassure the markets that he is serious about propping up the Eurozone to stave off impending recession. He did say that something was going to happen but unfortunately did not reveal any numbers so disappointing traders who then reacted negatively with the German Dax 30 index closing sharply down by 2% and the French CAC 40 being hit even more. As expected though, ECB interest rates did stay at its record low level.

As mentioned above, it’s the first Friday of the month so U.S. jobs numbers are announced at lunchtime with expectations of a rate of 6.1% which is slightly down on last month’s actual figure.  U.S. equities did bounce back slightly yesterday and the daily charts of the two main indices now have reversal candles present so a number around 6% or less will probably trigger a proper reversal after a bearish trend that kicked off two weeks ago.

WTI Crude prices hit a new low yesterday as it fell below the significant $90 level on news that Saudi Arabian and Russian production oversupply but an equity rally later in the session then caused a rebound and the price recovered to $91.39, up 65 cents.

Market Close Thursday 2nd Oct. 2014:  Dow Jones 30  -3.66 @ 16,801.05  S&P 500  +0.01 @ 1,946.17  NASDAQ  +1.12 @3,985.87  FTSE 100  -111.13 @ 6,446.39  DAX 30  -186.35 @ 9,195.68  CAC 40  -122.60 @ 4,242.67

07:30am  ~  I have 4 Skype calls this morning (the first one in a minute) plus a meeting here at home with the architect regarding a project I’m doing up the road, so there will be some chart watching on and off for most of the day.

The markets as a whole yesterday caught onto the fact that there was not much good news around to keep buyers interested, indices from all over the world recorded falls with the U.S. Dow Jones 30 losing 238 pips (-1.40%) and European indices losing around 1% on average. News that kept markets in check included the first Ebola case reported in the U.S. together with demonstrations by pro-democracy demonstrators in Hong Kong plus economic factors such as UK PMI falling to its lowest figure in 17 months and continuing gloom in the Eurozone area regarding inflation and a struggling manufacturing sector.  The S&P 500 is now around a previous support area from June/July (at 1948) so we may see some respite from the falls today as bargain hunters come into the market although the Dow Jones has still got a way to fall before it reaches its next support level at 16720.

The differing policies of U.S. and European Central banks showed up in the EUR/USD forex pair yesterday with an imminent rate rise at the Fed set against the ECB doing all it can to keep rates at record lows – so the pair fell over 5 pips down to 1.2623 at the end of Wednesday’s trading – more movement no doubt later with the ECB interest rate announcement at lunchtime today.

There is an interesting Gold chart at the moment, the price seems to have stopped falling well before reaching its significant $1180 support level, this was mainly due to equity markets dropping dramatically yesterday so investors wanted somewhere safer to place their cash as geo-political problems reared up once more – it ended at $1213, up over $4 on the day and is currently at $1217 as Asian trading comes to an end.

Market Close Wednesday 1st Oct. 2014:  Dow Jones 30  -238.19 @ 16,804.71  S&P 500  -26.13 @ 1,946.16  NASDAQ  -64.70 @3,984.74  FTSE 100  -65.20 @ 6,557.52  DAX 30  -92.27 @ 9,382.01  CAC 40  -50.97 @ 4,365.27

09:20am  ~  As I’ve finished all my Skype calls and nothing much is happening on the charts I am going to have a cycle ride for an hour or so before the meeting.

16:30pm  ~  Been out since lunchtime up at the building site but back now to watch my S&P  500 chart after 5pm to see if there’s any “Trade With A Day Job” set-ups this evening.

17:15pm  ~  Looks like a possible ‘short’ trade setting up.

17:20pm  ~  I’m in that ‘short’ position, my stop loss is 20 pips.

17:35pm  ~  My trade has been stopped out at -20 pips.

18:55pm  ~ Although the S&P 500 is still open for another 2 hours I am closing my chart down as we’re out now for the evening

Daily Target  +20 pips

Pips Achieved  -20 pips

08:05am  ~  It seems as though my broadband/internet is ok this morning after yesterday’s access problems, so fingers crossed that I can do some chart watching this morning.  Later today I’m helping a friend take the engine out of his 1929 Austin Seven.

Looking at the main market moves yesterday, it would seem that traders have been concentrating on the protests against the Chinese communist government’s hold on the people of Hong Kong for direction together with the surprise decline in U.S. consumer confidence for September, which came in at 86 rather than the expected consensus of just over 92.  The S&P Case Schiller Index also showed that there maybe some tough housing market conditions for the rest of the year, so it was no surprise that both main U.S. indices ended lower on the day (figures below)

A general feeling amongst traders I know in the City seems to be of a continued fall for the Euro against the U.S. Dollar and yesterday was no exception, the pair ended down 55 pips at 1.2631 – it is now at its lowest level since September 2012 and there’s no real support until it gets down to 1.204.  News of increased oil production in the volatile Libyan oil fields sparked a sell off in the WTI Crude price, it ended $3 down at $91.32 and unsurprisingly UK Brent followed closely behind.  Over the last 3 months general oil prices have slumped by 16% according to Bloomberg this morning, and there’s no real support for the Brent Oil price until it gets down to $89.50 – currently at $94.92 as I write this.

Market Close Tuesday 30th Sept. 2014:  Dow Jones 30  -28.32 @ 17,042.90  S&P 500  -5.51 @ 1,972.29  NASDAQ  +2.27 @4,049.44  FTSE 100  -23.88 @ 6,622.72  DAX 30  +51.39 @ 9,474.30  CAC 40  +58.17 @ 4,416.24

08:25am  ~  Just had a quick glance at my charts and there’s not much happening as the European session gets going so I’m off for a cycle ride along the River Blythe and over to Walberswick.

10:05am  ~  I’ve been back for 10 minutes and just glanced at my favourite few charts and noticed a possible UTB pattern from my “Any-Time” collection of strategies  that’s setting up on my Gold chart – it’s for a ‘long’ trade and I’ll report back soon if I get into the market.

10:15am  ~  The pattern has developed further and if the price gets to 12068 I shall enter ‘long’.

10:25am  ~  I am in the above mentioned position with an 18 pip stop loss.

12:30pm  ~  Just come into the kitchen to look at my laptop and I’ve seen my Gold trade was at +25 pips so I’ve closed it off happy with the modest profit. I’ve taken a chart screenshot to send out to students who have the strategy.

12:35pm  ~  While glancing at my charts a couple of minutes ago before getting back out into the garden I noticed a ‘short’ trade opportunity on the S&P500 – and I am now in that position with a 24 pip stop loss.

13:25pm  ~  As I do not watch my charts non-stop and the U.S. trading session is about to start I have my stop loss programmed in on the platform — so far the current trade is doing ok.

14:30pm  ~  One indicator on my chart has given me a signal that the S&P500 is going to continue in a downward direction so I’ll stay in a little while longer.

15:10pm  ~  Just closed off my S&P position as I’m off up the road to help a friend —  the price has come down nicely and I’ve ended up with +140 pips.

21:35pm  ~  Just got back indoors so no trading for me tonight.

Daily Target  +20 pips

Pips Achieved  +165 pips

07:25am  ~  Back from a long weekend away and I shall be having a relaxing day here at home.  I will report if I have any trades during the day – I’ll glance at my MT4 charts now and then when I have a spare minute or two. First it’s a cycle ride out along the beach path before breakfast.

Just looked at the Dow Jones 30 index and while I’ve been away the chart has developed a strong reversal candle indicating there maybe a short move upwards in the next few days ( a situation mirrored with the S&P500 too) although worries over the Hong Kong demonstrations against the Chinese Government’s stand on a fair democratic process looks to be causing worries for traders all over the world. Overnight, Asian markets were hit with this sentiment also together with renewed fears of a slowdown in the Chinese economy which is also hitting commodity prices.

Here in the UK the London FTSE 100 has also formed a strong reversal candle on the daily chart so any move above the 6650 level may trigger a ‘long’ move up towards its major moving averages and on the downside there’s no really meaningful support until you get down to 6530 – more than a 100 pips away from where it is currently.

Over in Frankfurt, Germany’s main index – the Dax 30 – is firmly in downward trend and there is a clear run down to the near term support at 9000, it closed at 9422 yesterday and a hold in EU interest rates is already priced into the market ahead of the rate announcement on Thursday so there’s not much to be optimistic about unless ECB boss Mario Draghi pulls his finger out and eventually does something to boost the Eurozone’s economy.

Market Close Monday 29th Sept. 2014:  Dow Jones 30  -41.93 @ 17,071.22  S&P 500  -5.05 @ 1,977.80  NASDAQ  -6.54 @4,047.18  FTSE 100  -2.79 @ 6,646.60  DAX 30  -67.64 @ 9,422.91  CAC 40  -36.68 @ 4,358.07

Late Update - I have had intermittent broadband problems for most of the day which resulted in me abandoning any chart watching early this morning – it is now just past midnight and my internet access does seem to be back permanently now.

08:40am  ~  A relaxed start to the day for me after a very late night playing cards with neighbours. I shall be here in the study this morning as I’ve two Skype calls plus a busy inbox to deal with – I will report back if I have any trades.  This afternoon I am off for a surprise long weekend away apparently.

The markets took a dive yesterday with U.S. stocks leading the bearish movement with Apple and Blackberry falling 3.3% and 4.8% respectively and that triggered some wider profit taking amongst technology shares mainly – the Nasdaq is now at its lowest level for over a month and the wider S&P 500 index is now firmly below the important 2000 level, it is currently sitting at 1967 after overnight futures trading with the next support level around 1950.  There does not seem to be much appetite for any move upwards, reports show most retail traders are short on indices and have been for a while now – and who knows what’s going to happen over the weekend to give the markets some direction on Monday ?  Airstrikes in Iraq and now Syria by leading NATO nations against IS should quieten the geo-political risk worries from the market although UK cabinet members have gone on record this week that this situation may go on for years.

There was some concerted profit taking in the WTI Crude market yesterday after the sharp rise the day before and the drop in equities plus a strong U.S. Dollar kept buyers out of the market – the daily chart formed a good reversal candle so the recent support at $90:35 looks like a reasonable target at the moment. On the bright side, Gold had a good session yesterday and buyers were encouraged into the market by falling equity markets plus an increased demand from the upcoming Hindu Diwali Festival where the precious metal is a popular gift during the 5-day celebrations.

Market Close Thursday 25th Sept. 2014:  Dow Jones 30  -264.26 @ 16,945.80  S&P 500  -32.31 @ 1,965.99  NASDAQ  -86.49 @4,007.82  FTSE 100  -66.56 @ 6,639.71  DAX 30  -151.96 @ 9,510.01  CAC 40  -58.44 @ 4,355.28

09:00am  ~  There looks like a UTB trade setting up on my S&P500 chart – more news soon.

10:15am  ~  Right – update on this position I’m currently in. I got into the market ‘long’ an hour ago at 9:15 and it’s doing ok at the moment,  currently sitting at +5 pips with a stop loss of 20 pips.

11:45pm  ~  I’m off  soon and as I am happy with the trade I closed it off a few minutes ago at +29 pips. Just sending a chart screenshot to students who have this system.

Back late on Monday evening.

Daily Target  +20 pips

Pips Achieved  +29 pips

07:45am  ~  A relaxing day at home for me today apart from a tennis match at 3pm ahead of a long-weekend away for my birthday celebrations. I’ll report any trades I see (and take) throughout the morning.

There was a brief resurgence in equity markets yesterday after Tuesday’s falls, it was led by Europe initially after upbeat remarks by ECB President Mario Draghi who is still promising that he will do whatever is needed to keep the Eurozone out of recession. Next up was good news from U.S. New Home Sales which halted two days of falls in the Dow Jones after Friday’s reversal candle on the daily chart and this sentiment has carried on overnight as Asian markets also had a bullish session.

U.S. Crude Oil Inventories came out yesterday with a surprising fall in stocks which sparked a rise in the value of WTI Crude which finished up just over a $1 at $92:88 although the UK Brent Oil failed to react until later in the session and did spend a brief period below its new support level at $96:15 but recovered well and is currently fighting against the general bearish trend it’s been in since the middle of June. Gold was in a generally bearish move once again yesterday – falling demand and a strong U.S. Dollar all conspired to keep buyers out of the market – the daily chart has been in decline since the middle of July but overnight trading has brought the price down towards the short term support at $1208 so watch out for a bounce off that level during today’s session. Current price as I write this is $1210.

Market Close Wednesday 24th Sept. 2014:  Dow Jones 30  +154.19 @ 17,210.06  S&P 500  +15.53 @ 1,998.30  NASDAQ  +42.74 @4,094.31  FTSE 100  +30.19 @ 6,706.27  DAX 30  +66.94 @ 9,661.97  CAC 40  +54.37 @ 4,413.72

08:25am  ~  There’s not much in the way of trading opportunities on my charts as the markets get going with the European session so I am off for a cycle ride up along the coastal path towards Lowestoft. Back by 10 o’clock as I have a Skype call with a new trader.

12:05pm  ~  Off to an early lunch at The Swan – there has been a few close calls but no trade set-ups in the end for me, I shall have another look later this evening when I’m back home.

17:00pm  ~  Just got in and switched on my S&P500 chart to watch for any “Trade With A Day Job” opportunities, this is the ‘kick-off’ time for the system although you can join in at any time between now and 9pm when the market closes.  Report back later.

17:20pm  ~  In ‘short’ on the S&P, there’s a strong bearish momentum that’s been prevalent for quite a while by the look of the chart.  It was a basic ‘evening’ strategy set-up showing the market is likely to continue down for a while.

19:15pm  ~  Out of my position, the final score is +38 pips.

Daily Target   +20 pips

Pips Achieved   +38 pips