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