08:30am CET (07:30 UK)  ~  No trading for me today, after a late start we are off to Mahon for the day – a short boat ride from Palma harbour – taking our guests for a day out.

Here in Europe equities have opened sharply down after a large sell-off in the U.S. last night – there seems to be pessimism across the board after the Federal Reserve held off their rates rise due to fears for the economy. Asian traders also have bearish outlook on the world economy as the Japanese Nikkei index fell for the fourth session in the row, a drop of over 1% last night and 2.7% down for the week.  It’s coming up for earning season in America so that will finally put to rest rumours regarding the overall health of the world’s largest economy – hopefully.  The Dow Jones fell nearly 2% yesterday and it still has a way to go down before it hits the next support level at 16,330 although the wider S&P 500 index is still hovering around the near term support at 1925 after a slip of 2.07% by the end of yesterday’s session.

With worries for the overall global economy together with growing Crude Oil supplies it was no surprise that WTI Crude price fell to $84.35 yesterday, the lowest level for over 2 years and OPEC’s upcoming price war will put further pressure on values – a good sign for UK motorists who have been paying too much for petrol for too long.  The fears and rumours over the world economy together with falling equities gave a boost to Gold prices yesterday, it rose over $2 by last night to $1223.5 although there is now a bearish reversal candle on my Gold chart for a move down towards the big support at $1182 if we see the price fall below $1218 in the next few days.

Market Close Thursday 9th Oct. 2014:  Dow Jones 30  -334.97 @ 16,659.25  S&P 500  -40.68 @ 1,928.21  NASDAQ  -71.80 @ 3969.32  FTSE 100  -50.39 @ 6,431.85  DAX 30  +9.69 @ 9,005.02  CAC 40  -26.67 @ 4,141.45  IBEX -65.30 @ 10,273.70