Dark cloud hanging on the horizon

After an FOMC streak of wins last week, this week U.S indices futures indicate moderate lower open. Dow Jones Industrial Averages Futures are sloping down 94 points in European market session.

Asian market and European market bath in bright red. Nikkei down 209.46 points (-1.25%) to 16,544.56, Shang Hai Composite down 52.65 points (-1.74%) to 2,981.25, and Australia ASX 200 safely hold on 0.12 points gain at 5,431.42.

DAX leading the drop in the European market with 1.52% retreat, followed by Euro STOXX600 and UK FTSE with the loss of 1.42% and 1.23% respectively.

Global market prepares for first U.S election debate and OPEC meeting at Algier started today.

Technical Analysis

Dow Jones Industrial Averages (INDU)

Last week DJIA had opportunities to close above the red candle range, but it failed to do so. We think today it will try to go lower again and maybe put the price near SMA 200 in several days.

Antero Resources (AR)

AR already range between $25.5 – $27.8 since mid-July this year. Without much change in its situation, we think the ranging movement will continue and buying near the SMA 200 when price fall to that level will provide a good opportunity.

Eaton Corp (ETN)

ETN bounced from the blue trend line, and the price has history of resistance area between $62.5 – $64. We expect bullish movement further up to recent high at $68.2 from the resistance turn support area.

Scripps Network Interactive (SNI)

SNI have defined a range between $60 – $68.44, and the price has not broken that range. Meanwhile, we have it close below SMA 200 for the first time, if the trend change we can expect a move to lower level around $55 – $56.

WYNN resort (WYNN)

WYNN successfully break above $100 – $102.5 and price coming down again to make re-test. Base on the 1-2-3 pattern or break-retrace-bounce we think WYNN have a solid bullish pattern and high odds of continuation after bullish candlestick formed.