07:50am   Full-on day helping the builders here so no chart watching today but I will be back in front of the screens next Tuesday after a long-weekend break.

Market Update:

U.S. markets closed broadly ahead again yesterday with the Dow Jones Industrial Average completing its tenth record close in a row to finish up 34 points at 20,810 although the wider S&P index of the biggest 500 companies was only up by 0.04% at the closing bell last night. Overall the markets are still positive and financials faired well yesterday on the back of comments from the newly appointed U.S. Treasury Secretary Steve Mnuchin who is keen to push through economic reforms well before the government’s summer recess.

Overnight Asian markets did not perform so well though with most indices ending in the red on mixed corporate news but the Shanghai Composite did provide some relief by closing 1.6 points up. This morning’s European markets are currently trading slightly down on yesterday’s close and this may not improve much if U.S. traders start booking profits later today before the weekend break.

Oil markets are again trading near their highs of 2017 although there does seem to be a price ceiling at $54 for WTI Crude which was almost hit again yesterday so expect some further selling today as this week’s U.S. stock situation is once higher than expected. WTI Crude is currently trading at $54.22 and falling towards its 20-day moving average.