Need help identifying/correcting paint defect (pics)

Hello!
Been doing a lot of reading and thanks to this great site I've applied much of what I've learned with great success. However, it seems I have now hit a road block...

Quick background... Car is a jet black 3series that has spent it's first four years in San Fran (mostly sitting outside...hardly driven). I purchased the car last year and so far have done the following:

Clayed extensively (clay bar kept turning into sand paper throughout the entire process)
Compound & Polished with rotary using some random chemicals I found at the dealership I used to work at (not sure how aggressive they were)

At first glance the car looked perfect however under the right lighting conditions there seems to be some particles/contaminates embedded in the clear. Now when I clayed the car the paint was left smooth to the touch so I'm not sure if this is a clay issue or something that requires a wool pad with a really aggressive compound.

Looking forward to your responses, and thank you for your time!

 

I would hit it up with M105 and an LC tang pad with the rotary. You need to know the info of the compound and polish to correct it properly.