Trump or Biden, who will win?

The U.S election is in progress today, at the current time, Joe Biden has secured 238 electoral votes while Trump secured 213 electoral votes. The tight race continues and no clear winner yet. Despite the tight race, Trump has claimed that he has won the election before all votes counted.

DJIA futures currently lower 60 points, recover from the earlier +300 drop after the claim. We might see high volatility trading day as all votes counted.

Asian & European Stock market

The Asian stock market is mixed today. Japan stock market up 399.75 points (+1.72%) to 23,695.23, China stock market up 6.37 points (+0.19%) to 3,277.44 and Australia ASX 200 down 4.30 points (-0.07%) to 6,062.10. The European stock market mostly lower. DAX Germany down 0.87%, UK FTSE flat +0.03%, and Euro Stoxx600 down 0.13%.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA bounced from 26,000 and closed above 27,000 yesterday. The index is set to continue its bullish movement technically. However, U.S presidential election is ongoing today and it might change the sentiment. If the index continues moving upward then 27,000 – 28,000 areas will become the area to watch.

On the other hand, if the bearish movement started then we might see another test on daily SMA 200 and 26,000 handles.

Advanced Micro Devices (AMD)

AMD share prices make a bearish correction and currently trade near the horizontal line and the daily SMA 100. We might see the share prices bounce and continue the movement inside the triangle pattern. However, if a bearish breakout happens then AMD is set to continue lower and target the daily SMA 200 and horizontal level around $60.00.