07:35am    Another day at home catching up on emails, doing Skype calls and also helping the builders so I will report any trades I have here.

The two U.S. indices markets had a day of bearish sentiment after the ADP emplyment numbers came in below 200,000 for a second  month in a row, hinting that the March drop was not a one-time event and strongly suggesting that the U.S. economy is slowing. This news plus comments last night from Fed Chairman Janet Yellen regarding equity valuations is putting the brakes on an early rate rise, which should really be forcing markets up not down – trading is an interesting job sometimes.

WTI Crude got a boost in buying activity yesterday as the weekly stock inventories came in with a drop of nearly 4 million barrels which is the first decline in four months and this news together with an escalating problem in Yemen which may cause production problems for OPEC sent the price up over $3:50 during the day although a lot of the gains were wiped out in late trading after some concerted profit taking by traders. My daily WTI chart has now formed a reversal candle with an overbought bias so there maybe some consolidation occurring for the rest of the week.

It’s voting day here in the UK to elect a new coalition government so traders in London may well be sitting on their hands for the next 24 hours waiting to see who gets in, although it does seem as though it’s going to be another Liberal/Conservative team. Once the results are out tomorrow there is then the U.S. Non Farm Payroll numbers so there’s going to be an interesting end to the week on the markets.

Market Close Wednesday 6th May 2015:   Dow Jones 30  -142.20 @ 17,928.20  S&P  500  -25.03 @ 2,089.46  NASDAQ  -73.22 @ 4,409.39  FTSE 100  -58.37 @ 6,927.58  UK AIM  -1.34 @ 751.68  DAX 30  -292.17 @ 11,327.68  CAC 40  -107.90 @ 4,974.07  IBEX   -313.50 @ 11,115.60   Nikkei 225 (Today)  +11.62 @ 19,531.63  Hang Seng (currently)  +74.88 @ 27,830.42

11:55am   Been in and out of the house all morning so not really seen much on my charts but I am just waiting to see if a UTB pattern completes on my FTSE 100 chart.

14:50pm   The earlier UTB trade did trigger so I am in that position with a 26 pip stop loss and I am also now in a ‘short’ position on my UK Brent Crude chart using one of the trendFX set-ups. The stop loss on this one is 49 pips, a bit higher than usual but the market is moving very well so there’s plenty of potential if the market keeps going in the same direction.

16:45pm    Down to the harbour now for a couple of hours so I’ve closed off both trades.  FTSE 100 +55 pips   Brent Crude +79 pips.