07:20am  ~   An early start at home today for me as I clear up after a long building project – so I will report back later if I have any trades. As I’ve mentioned before, I do not sit watching my charts minute by minute, but just glance at them every 30 minutes or so while I’m here at home doing other things.

As you can see from the market close numbers below, most indices ended in negative territory and this has been attributed to the fact that the Chinese Finance Minister Lou Jiwei has confirmed that the government is not going to alter their economic policy even though their economic growth is in a serious decline.  This news caused ripples in world markets and indices fell heavily for most of yesterday’s session. U.S. markets also had to deal with surprising news that existing home sales dropped unexpectedly showing last month’s house sales (excluding new builds) dropped by nearly 90,000 in comparison with July’s figures although generally the numbers are still way ahead of those at the beginning of the year.

A knock-on effect hit Crude Oil prices yesterday as China confirmed they are not going to prop up their economy and this resulted in WTI Crude dropping just over $1 to $90:66 and falling U.S. equities did not help either.  Brent Oil was also in a bearish mood and dropped below a previous support at $96:70 for a short while yesterday although the price has recovered slightly overnight. Gold formed a reversal candle on the daily chart yesterday but there is still no big support nearby so the price could still fall although if we do see the rumoured fall in equity markets that traders have been foreseeing for the last two weeks, investors will move over to Gold and bolster its value – a move today above $1220 will be a signal for buyers.

Market Close Monday 22nd Sept. 2014:  Dow Jones 30  -107.06 @ 17,172.68  S&P 500  -16.11 @ 1,994.29  NASDAQ  -38.86 @4,061.23  FTSE 100  -45.66 @ 6,773.63  DAX 30  -49.72 @ 9,749.54  CAC 40  -18.67 @ 4,442.55

07:50am  ~  Just glancing through my charts quickly 10 minutes ago and I spotted the German Dax had formed a nice UTB pattern and the price has now just moved low enough to trigger a ‘short’ trade. My stop loss is 8 pips.

08:15am  ~  The German PMI numbers are to be announced soon and the Dax has moved down quite well in the past 20 minutes so I am now out of my position with a +36 pip profit.

08:20am  ~  I can see possible UTB set-up on my Gold chart now, I shall wait until after 8:30 to see what happens.

08:45am  ~  The Gold price has moved slowly upwards and has triggered a ‘long’ UTB position, so I am in the market with 23 pip stop loss.

10:15am  ~  The Gold price momentum has slowed slightly so I have come out of the trade with a +69 pip profit.

11:25am  ~  Just back indoors to look at my charts and there’s not much happening so I am off out now to get two of my old Morgans MOT”d and then more landscaping in the garden for the afternoon.

19:35pm  ~  Just got indoors and had a shower so I’m going watch the S&P 500 while I cook some supper for me and the blonde.

20:40pm  ~  I did manage to have a quick ‘long’ trade using one of the “Trade With A Day Job” strategies – stop loss was 19 pips and profit +20 pips.

Daily Target  +20 pips

Pips Achieved  +125 pips