08:45am   I am out for the day with some fellow traders so no chart watching for me today but I will be back in front of my screens next Tuesday after an extended weekend break.

Market Update:

Once again I am reporting record highs for the three major U.S. equity indices yesterday, the Dow Jones 30 rose 205.60 points to 25,574.73 (+0.81%) with Boeing the largest riser of the session and the S&P-500 and Nasdaq Index also performing well with the former finishing at 2767.56 and well on its way to the next target at 2868.00. Optimism is still high over corporate earnings for the last quarter of 2017 and traders are waiting with baited breath for announcements by Wells Fargo, JP Morgan Chase and Black Rock (amongst others) later today.

The overnight Asian trading session ended mostly higher although the Japanese Nikkei-225 index closed slightly down at 23,653.63 after a bout of profit taking in the Auto and Technology sectors following a good run-up earlier this week. Chinese import data missed expectations although exports were ahead and this kept the Hang Seng and Shanghai Composite in positive territory for most of the session.

Oil inevitably gave up some of the rises from earlier on the week after it hit 3-year highs on Wednesday although my Brent Crude Oil chart shows some limited support around the $68.00 level so any falls could be small (currently at $69.27)  Traders see the market as well supported at the moment with OPEC and Russian  production cuts keeping the price up and no big rush to open new U.S. fracking sites to fill the void.