08:15am CET (07:15 UK time)  ~  Starting the day here in the study with emails and some chart watching from time to time – with a cycle ride at sometime before lunch.

The U.S. Dow Jones Industrial Average ended slightly up last night after a shaky start due to energy stocks still suffering the record low crude prices but later in the day retraced back upwards on the back of good bullish moves by WalMart and Procter & Gamble. Late results of mid-term elections over there has given a slight boost to the U.S. indices in overnight futures trading as the Democrats have lost control of both Houses of Congress so European markets should open slightly up in a short while.  Speaking to American friends in the past few days has given me the sense that a lot of their fellow countrymen are now tired of Obama and feel ready for a change and these results are giving hope to the majority of the population.

The S&P500 has had a short retrace on its daily chart but there now seems to be renewed energy for a move upwards to keep the year-end rally alive, a move in the next few days above 20125 should confirm this enthusiasm. European markets are still lagging behind with price levels well below the highs of June this year but if Mario Draghi and his colleagues at the European Central Bank can pull their collective fingers out and offer some monetary stimulus the the region before some of its banks fall by the wayside, as has been rumoured this week.

Crude oil is still suffering from the Saudis reaction to cut export prices in the wake of cheaper ‘fracked’ oil from the U.S. — WTI Crude lost another 87 cents during yesterday’s trading session to finish at $77.34 with the likelihood that the 2011 support level at $75 is going to visited. UK Brent Crude is also being dragged down on this sentiment, it is now at a 4-year low and has lost further pips in overnight futures trading.

Market Close Tuesday 4th November 2014:   Dow Jones 30  +17.60 @ 17,383.84  S&P 500  -5.71 @ 2,012.10  NASDAQ  -13.06 @ 4,156.23  FTSE 100  -34.00 @ 6,453.97  UK AIM -4.88 @ 715.06  DAX 30  -85.23 @ 9,166.47  CAC 40  -63.84 @4,130.19  IBEX  -63.84 @ 10,154.40  Nikkei 225 (Today)  +74.85 @ 16,937.32  Hang Seng (Today)  -162.87  @ 23,682.79

08:30am CET  ~  My fitness-fanatic of a neighbour has just text to see if I’m up for a swim across the bay so I shall be out for an hour or so – nothing much happening on the charts so far.

10:10am CET  ~  Back home now so back to emails/chart watching before lunch.

10:35am  ~  There’s a possible UTB ‘long’ trade setting up on my S&P500 chart.

10:50am CET ~  I am in that UTB position now with a 27 pip stop loss.

12:15pm CET ~  Still in my S&P position, the price has gone up steadily but is starting to consolidate – I can see it still has some more to go though, at least upto the high of the day.

13:50pm  ~  We’re off out to lunch in town so I’ve closed off the trade, it has managed +51 pips.

14:45pm  ~  Back now and going to watch charts again for a couple of hours while here in the study doing some more to my Trading Psychology book.

15:10pm  ~  I am now in a ‘short’ position on my FTSE 100 chart — another UTB pattern set-up. The stop loss is 8 pips.

16:40pm  ~  We’re off to Palma in a minute to pick-up a new car so I’ve closed off my FTSE position with a quick +22 pip profit.