08:25am CET (7:25am UK)  ~ I’m having a nice relaxing day at home so I may do some chart watching on and off but first I’m off for a cycle ride out west on the Pollenca road.  I try to do at least 15 miles a day but that’s only an hour’s ride so 20-25 mile is much more useful for somebody of my age (50+)

The markets yesterday mostly had a neutral day after mixed economic news and the London FTSE 100 hit it’s near term support level at 6300 before bouncing back. Meanwhile in the U.S. the S&P 500 index is still below the major support at 1900 (currently at 1883 this morning on the futures market) and together with the narrower Dow Jones Industrial Average initially started the day well on optimistic earnings data which brought out some bargain hunters but by the end of the session the enthusiasm had died down somewhat after Crude Oil prices headed south which affected energy shares. The Dow Jones almost hit an August support level around 16,270 during the last hour of trading so there maybe a bullish reaction to that this morning.  Overnight, the Asian markets have shown cautious optimism although there is still a marked reluctance to reverse the bearish trend due to worries about the economy in the area together with the looming ebola epidemic.

Crude oil is still firmly in a bearish mood with U.S. WTI Crude falling another $2.70 yesterday to $82.28 and there does not seem to be much support in the near future, the next level for a rest is at $77, quite a way off yet. News that the French-based International Energy Agency moved their estimates for next year’s rise in oil consumption by a quarter of a million barrels a day did not help values either.

Market Close Tuesday 14th Oct. 2014:  Dow Jones 30  -5.88 @ 16,315.19  S&P 500  +2.96 @ 1,877.70  NASDAQ  +2.46 @ 3810.45  FTSE 100  +26.44 @ 6,392.68  DAX 30  +12.78 @ 8,825.21  CAC 40  +9.55 @ 4,088.25  IBEX +17.60 @ 10,204.90

10:10am  ~  Back home now so I’m going to do some emailing and chart watching every 30 minutes or so.

10:35am  ~  There looks as though there is a ‘short’ trade setting up on the German Dax 30 chart — a trendFX opportunity

10:55am  ~  The Dax price has dropped sufficiently to trigger a ‘short’ for me, so I am in the market with a 36 pip stop loss.

14:25pm  ~  The pre-market in the U.S. is just about to get going so I am staying in the trade but have brought my stop loss up to break even to protect the profit I already have.

14:55pm  (CET)  ~  We quite fancy going out for a late lunch so I’ve just closed off my Dax trade, the price has come down quite well, in tandem with the Dow Jones and S&P 500 futures and I’ve come away with a +128 pip profit.

16:30pm  ~  Back from lunch and just looked at the U.S. market charts, they are falling quite fast so there will be some good opportunities in the next few hours but I’m happy with my score for the day so I’ll be back in front of my charting platform tomorrow.

Daily Target  +20 pips

Pips Achieved  +128 pips