07:30am CET (6:30 UK time)  ~  We got back here late last night after a delayed flight so no trading to report for this week yet although I shall be here in the study this morning catching up on emails and Skype calls and doing some chart watching at the same time.  I also have a trip over to Palma airport before lunch to take our weekend guests to catch their flight back to the UK but first it’s a cycle ride along the bay as the morning has started warm – clear skies and 17 degrees at the moment.

The fall in equities is continuing with the U.S. Dow Jones 30 index hitting it’s long term support level a 16300 yesterday although there has been a slight bounce in the futures price during the overnight Asian session. The Tech-Heavy Nasdaq and wider S&P 500 indices also dropped by around 1.6% apiece and the culprit for this pessimism is still being touted as the African Ebola crisis together with last week’s Fed comments regarding the general slowdown of the world economy, Asia and Europe in particular.  Overnight, Japan’s Nikkei Average fell over 2% by the close partly caused by the U.S. market woes and also the strength of the Yen is hurting exporters at the moment.

Gold is showing a good example of support/resistance trading as it climbs from the long term support line at $1180 – this level stretches back over a year and illustrates just how well this type of trading works, good to look at if you are new to the markets.  Crude Oil values are yet again under pressure as Iran has now joined other OPEC producers in announcing they’re going to sell Crude at a discount to China and India. This put pressure on WTI Crude prices and the market closed down by 50 cents to just under $85:00 and it briefly touched the 2012 support level at $84 during yesterday’s session before bouncing up after technical traders stepped in to take advantage of this 2-year low.

Market Close Monday 13th Oct. 2014:  Dow Jones 30  -223.03 @ 16,321.07  S&P 500  -62.86 @ 1,874.74  NASDAQ  -62.86 @ 3808.00  FTSE 100  +26.27 @ 6,366.24  DAX 30  +23.62 @ 8,812.43  CAC 40  +4.99 @ 4,078.70  IBEX +36.80 @ 10,187.30

9:40am  ~  Back from my cycle ride so I’m going to settle down in the study now for a few hours to do emails etc plus some chart watching.

10:10am  ~  Nothing great happening on the charts apart from a potential ‘short’ on the EUR/USD chart. Compared with the instruments I usually trade, this forex pair does not have a great profit potential on short term day trading but if it does trigger I will still take the position as there still maybe 15-20 pips in the trade.

 10:25am  ~  I’m now in a ‘short’ on the EUR/USD chart with a 19 pip stop loss – it is a trendFX strategy 3 set-up.

11:30am  ~  Trade still doing ok but will close it off soon as I am taking Charles + girlfriend to Palma Airport.

12:45pm CET  ~ The position has been closed off at 1.2647 giving a small profit of +41 pips.

18:10pm  ~  Just got back home but friends for dinner so unfortunately no more chart watching or trading today.

Daily Target  +20 pips

Pips Achieved  +41 pips