08:30am   Planning another quiet day at home catching up on Skype calls and emails plus some chart watching from time to time. Any trades I find will be detailed below in my Trading Diary.

Market Update:

Third quarter company results continue to come in and affect the U.S. markets and buoyant numbers yesterday gave the Dow Jones reason to rise a record level last night of 23,441.76, a rise of 176 points which is a new intraday rise for this year. Traders are also optimistic about tax reforms in the U.S. as it will bolster spending and company profits and this is also driving equities to ever new highs.  This optimism has spilled over to the overnight Asian trading session where most of the main indices closed up although the Japanese Nikkei-225 index broke its  16-day winning run by closing down by 97 points at 21,707.22 after a late sell-off which was mainly attributed to profit taking.

Oil prices are holding steady at the moment with U.S. benchmark WTI Crude hovering around its monthly high of $52:60 although there is some selling this morning. OPEC have reiterated their commitment to reduce stocks across industrialised nations and have agreements from Russia and other large producers to carry on their self imposed production cuts into 2018 in an attempt to keep Crude prices around current levels although there will always be a risk that cuts to production on the Middle Eastern region will encourage U.S shale producers to flood the market with their own products.

Gold has suffered some selling after rises across equity markets yesterday and it is heading down towards it’s 200-day moving average at $1266.00 as I alerted subscribers this morning. Watch for a possible price reversal at this level, I will be sending out a chart to customers this morning.

Trading Diary:

09:35am  Quiet on my charts at the moment so off for a cycle ride.

13:00pm  No trades taken yet and now off for some lunch at my local.

14:20pm   Back home and just glanced at my charts, no opportunities on my favourite charts so I am going to switch off my charts for the day.

I have a planned day off with the family tomorrow but I will be back in front of my charts on Friday morning.