TECHNICAL ANALYSIS WITH CANDLESTICK CHARTS – 29 OCTOBER 2021

 

Asia Pacific stocks were mostly down on Friday morning. The Shanghai composite is up 0.16% at 3,523.93. Overall, the Singapore MSCI up 0.80% at 370.90. Over in Hong Kong, the Hang Seng Index up 0.04% at 25,424.00. In Japan, the Nikkei 225 up 0.73% at 28,980.00, while the Topix index is up 0.35% at 2002.5. South Korea’s Kospi down 0.65% to 2990.11. Australia S&P/ASX 200 down 0.71% at 7377.5.

European equities Thursday closing. The DAX futures contract in Germany traded down 0.06% at 15696.33, CAC 40 futures up 0.75% at 6804.22 and the UK 100 futures contract in the U.K. down 0.05% at 7,249.48.

In U.S. on Wall Street, the Dow Jones Industrial Average closed up 0.68% at 35730.49. The S&P 500 up 0.98% at 4596.41 and the Nasdaq 100 down 0.02% at 15684.4, NYSE closes at 17076.99 up 0.93%.

In the Forex market, GBPUSD up 0.06% at 1.3794. The USDJPY up 0.04% at 113.614. The USDCHF down 0.01% at 0.9117. EURUSD down 0.01% at 1.1677, EUR/GBP down 0.05% at 0.84649. The USD/CNY down 0.01% at 6.3908 at the time of writing.

In the commodity market U.S. Gold futures down 0.10% at $1,797.24. Elsewhere, Silver futures down 0.44% to $23.95 per ounce, Platinum up 0.32% at $1020.24 per ounce, and Palladium up 0.13% at $1995.00.

Crude Oil mix on Friday; Brent crude oil down 0.05% at $84.46 per barrel while U.S. West Texas Intermediate (CLc1) is up 0.16% at $82.83.

In the Cryptocurrency Markets, BTCUSD at 61686.80 up 1.81%, Ethereum up 2.11% at 4380.12, Litecoin at 193.10 up 1.82%, at the time of writing.

TOP STOCKS TO WATCH OUT TODAY:

Gap Inc. up 5.515% at $22.96, Nielsen Holdings PLC. up 6.54% at $20.69, eBay Inc. down 6.76% to $72.41, Visa Inc. down 2.753% to $209.84, Autozone Inc. down 2.506% to $1780.1, Teleflex Inc. down 5.163% at $347.36.

ECONOMIC NEWS:

US: Contracts to buy U.S. previously owned homes unexpectedly fell in September likely as some potential buyers delayed purchases amid higher prices.

The National Association of Realtors (NAR) said on Thursday its Pending Home Sales Index, based on signed contracts, decreased 2.3% last month to 116.7. Pending home sales fell in all four regions.

Economists polled by Reuters had forecast contracts, which become sales after a month or two, would be unchanged. Pending home sales dropped 8.0% in September on a year-on-year basis. Scarce inventory has led to double-digit growth in home prices.

“Some potential buyers have momentarily paused their home search with intentions to resume in 2022,” said Lawrence Yun, NAR’s chief economist.

Eurozone: European Central Bank President Christine Lagarde acknowledged on Thursday that inflation will be high for even longer but pushed back against market bets that price pressures would trigger an interest rate hike as soon as next year.

With central banks around the world signalling tighter policy amid rising prices, Lagarde said the ECB had done much “soul-searching” over its stance but concluded that inflation was still temporary, so a policy response would be premature.

“We talked about inflation, inflation, inflation,” Lagarde told a news conference following the ECB’s policy meeting.

She identified higher energy prices, a global mismatch between recovering demand and supply, and one-off base effects such as the end of a cut in German sales taxes as the three main factors temporarily driving euro zone inflation.

“While inflation will take longer to decline than previously expected, we expect these factors to ease in the course of next year … We continue to see inflation in the medium term below our 2% target,” Lagarde said.

Important Data: UK Nationwide HPI (YoY) (Oct) today at 3:00 this time estimated 9.3%, previously which was 10.0%. EURO ZONE CPI (YoY) (Oct) at 5:00 this time estimated 3.7%, previously which was 3.4%. CANADA GDP (MoM) (Aug) today at 8:30 this time estimated 0.7%, previously which was -0.1%. US PCE Price index (YoY) (Sep) today at 8:30 previously which was 4.3.

TECHNICAL SUMMARY