New 12v solar panel and output is up and down constantly, help

Hi guys

Just bought this exact panel and regulator set up 12v 120w

PLaced the charger on a 130amp Trojan 12v deep cycle which was charged to 12.7v, I connected a waeco thermo electric cooler and ran it from the morning. Checked it at 13:30hrs and the battery voltage was at 12.07v under load of the cooler. Disconnected the cooler, battery went up to 12.5v, put a DC clamp meter around the active and found only 1.2a going in. Panels in full sunlight (no clouds near the sun at the time). I then put a cigarette voltmeter in the battery box and watched the voltage readout, it would constantly flick between 12.5 to 12.7v then 13.5v then 12.7v every second. Its like the solar regulator is doing this. Any ideas? Doesn't sound right and the current should be more from a 120w panel?

Regards
Chris
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