07:45am ~  Another day away from the markets as I am away late morning to a friend’s funeral. Before that I will be here in the study doing emails plus 3 Skype calls and a brief look at a few favourite charts.

Equity markets were generally positive yesterday at last night’s close with U.S. indices forming reversal candles on the daily charts with hopes of further gains today and Japan’s Nikkei index also finishing up on the back of a weakening Yen and the hope that today’s meeting between the Prime Minister and Central Bank Governor. Emerging bullish news regarding geo-political problems with President Obama confirming air strikes against the Islamic State in Syria and Iraq plus Russian troops apparently withdrawing from Eastern Ukraine helped traders form an optimistic outlook for the coming few days in the market ahead of an FOMC meeting, the bank Of England MPC meeting minutes and the looming Scottish Independence vote.

Across at the Oil market there was an unexpected higher stockpile number yesterday which drove the WTI Crude price lower yesterday afternoon to a low of $91.20 which technical traders will be pleased to see was the exact reading for the low at the beginning of the year. UK Brent Crude followed suit reaching a low of $96.20 a level that’s not been reached since April 2013 so expect bargain-hunters to be out in force for the rest of the week trying to get the price back up around the resistance at $98.40.  With the aforementioned easing of geo-political problems the Gold price suffered from a lack of interest as an alternative investment plus a stronger Dollar and it ended the day down $6 at $1249 with possible further falls down to the support level at $1240.

Market Close Wednesday 10th Sept. 2014:  Dow Jones 30  +54.84 @ 17,068.71  S&P 500  +7.25 @ 1,995.69  NASDAQ  +33.09 @4,094.97  FTSE 100  +1.11 @ 6,830.11  DAX 30  -10.53 @ 9,700.17  CAC 40  -1.58 @ 4,450.79

08:00am  ~  Just glancing quickly at my charts for any opportunities as the European indices get going and I can see a possible UTB pattern on the French CAC40 index, not something I usually trade but as there’s nothing really happening on my normal charts I’ve picked on a few additional ones.

08:10am  ~  I am in a ‘short’ UTB position on my CAC40 chart with a 14 pip stop loss.

10:15am  ~  As we are off out soon I am now out of my CAC position – it has resulted in a +25 pip profit.

Daily Target  +20 pips

Pips Achieved  +25 pips