08:35am CET (07:35 UK Time)  ~  A late start for me after getting in early this morning – I shall be at home this morning doing emails and Skype calls with some chart watching every hour or so and then clay pigeon shooting planned for this afternoon just outside Sa Pobla.

There was an initial rally when U.S. markets opened yesterday on encouraging profit figures but this bullishness quickly evaporated as a falling oil price and deflation worries once again took traders focus away from equities. UK inflation figures out yesterday morning showed a record low figure which increased hopes that interest rates will be kept on hold which buoyed the FTSE 100 but there are also underlying fears of a global deflation problem that is currently in full swing in certain areas of the Eurozone and Asia. Crude oil values continued their march south during most of yesterday on concerns of oversupply and also a consensus in Wall Street that there is support for WTI Crude around the $40 level and on the back of this sentiment it touched $44.20 during yesterday’s session before bargain hunters brought the price up slightly to finish Tuesday at $46.12. After the overnight Asian session it’s currently trading down again at $45.39 and Brent is, as usual, following suit and is currently falling towards yesterday’s low of $45.18 (currently $45.90)

Gold briefly touched the $1240 resistance level yesterday before retreating downwards although overall it is now in a bullish trend that kicked off during the last few weeks of December, expect some volatile trading in this commodity as investors yo-yo between good and bad news almost daily. The price is currently sitting at the top of the narrow $100 wide tunnel that it’s been trading in since October.

Market Close Tuesday 13th January 2015:   Dow Jones 30  -27.16 @ 17,613.68  S&P 500  -5.23 @ 2,023.03  NASDAQ  -3.71 @ 4,166.20  FTSE 100  +40.78 @ 6,542.20  UK AIM  -1.68 @ 702.24  DAX 30  +159.10 @ 9,941.00  CAC 40  +62.40 @ 4,290.28  IBEX  +168.50 @ 9,966.00   Nikkei 225 (Today)  -291.75 @ 16,795.96  Hang Seng (currently)  -126.27 @ 24,089.70

All time below are CET ( GMT + 1hr)

08:55am  ~  Just had a quick glance at my favourite set of charts and there’s nothing much happening at the moment, so I am going off for a cycle ride to clear the cobwebs.

12:45pm  ~  Looks like the start of a UTB pattern on my S&P 500 chart.

13:00pm  ~  I am now in a ‘short’ position on the S&P index with a 46 pip stop loss.

14:25pm  ~  I’m still in my S&P trade but the pre-markets is just about to open and there’s also U.S. Retail Sales numbers out in 5 minutes so I have my stop loss in place and going to watch the chart carefully in case the numbers are good.

15:10pm  ~  The U.S. equity markets are quite ‘busy’ at the moment but my trade has faired quite well and I am now out with a +201 pip profit, another success for the UTB pattern. Going to curtail my chart watching now as I’m off out now for the rest of the afternoon.