07:50am UK time  ~  I have a meeting up the road with the builders mid-morning plus quite a long cycle ride with friends this afternoon but I shall still have plenty of time for chart watching so I will report back here later with any trades.

Markets were mostly down yesterday with plenty of negative news around – the situation in Greece is dragging on with Greek Prime Minister Alexis Tzipras promising to end the austerity program and not wanting an extension of the bailout and President Obama suggesting that the U.S. will send in heavy weapons to support Ukraine against Putin’s troops after diplomatic efforts by France and Germany failed over the weekend.  There seems to be a new resistance level on the S&P 500 of around 2070 which it’s hit a few times in the past months since the new year fall from the all time high of 2092 so further drop looks likely and the Dow Jones 30 has a similiar resistance at 17930. Interestingly, my charts of European equities are mostly oversold but the U.S. indices are overbought so this week will be an interesting one with plenty of trading opportunities.

Crude oil markets received a small boost yesterday when OPEC forecast a small drop in output due to a slowdown in drilling which seems to suggest that som eof their members are feeling the pinch at last, the same pain that the UK and U.S. have suffered from for the last six months. WTI Crude rose 18 cents to $52.44 a barrel yesterday on light trading but the daily chart does look as though it may have more space to fall, maybe back to the January support at $43.90 ?

Market Close Monday 9th February 2015:   Dow Jones 30  -90.58 @ 17,729.21  S&P 500  -8.73 @ 2,046.74  NASDAQ  -12.60 @ 4,216.09  FTSE 100  -16.29 @ 6,837.15  UK AIM  +2.55 @ 700.50  DAX 30  -182.88 @ 10,663.51  CAC 40  00.00 @ 4,691.03  IBEX  -209.20 @ 10,364.90   Nikkei 225 (Today)  -59.25 @ 17,652.68  Hang Seng (currently)  +13.80 @ 24,534.80

09:15am  ~  There are a few UTB patterns setting up on a variety of European equity charts so I’ll be concentrating on the one that usually produces the best pip movement – this means watching the German Dax 30 chart..

09:55am  ~  I am now in a ‘long’ UTB position on my Dax chart – the stop loss is 26 pips.

12:20pm  ~  Off up the road now for an hour and also happy with the movement on the Dax in the past few hours —  I am now out of my ‘long’ position with a +136 pip profit.

13:45pm  ~  No more chart watching for a few hours, we are off on a cycle ride down towards Aldeburgh.

18:15pm  ~  Back indoors now and going to watch my S&P 500 chart for any ‘Trade With A Day Job’ set-ups before we’re out for the evening.

19:20pm  ~  Nothing to see on the S&P so far tonight, switching laptop off now.