Tax-reform pass, the bull line up

Late Thursday, the Senate passed a budget blueprint for next year which paves the way for President Trump tax-reform. This event regarded positive, and U.S dollar stormed upside in the Asian session. The upward movement also is seen in Dow Jones Industrial Averages futures which up 74 points in the European session.

Aside from tax-reform, there is another key issue on next name to become chief of The Federal Reserve. The majority think Jerome Powell will seize the seat as President Trump leaning to him.

Fed chief Janet Yellen scheduled to give a speech at 7.30 PM Eastern time. Ahead of schedule, Fed. Gov Loretta Mester will attend the discussion in Columbia University on 2.00 PM Eastern time.

Asian stock market climb on the last trading day of the week. Nikkei up 9.12 points (+0.04%) to 21,457.64, Shang Hai Composite up 9.33 points (+0.28%) to 3,379.50, and Australia ASX 200 up 10.86 points (+0.18%) to 5,906.99. European stock market hovering at the green side, DAX Germany up 0.17%, FTSE UK up 0.08% and Euro STOXX 600 up 0.08%.

Technical Analysis

Dow Jones Industrial Average (INDU)

The first hurdle is cleared on Tax-reform which helped DJIA maintain its advantage above 23,000. If the tax-reform approved what will happen to the index might baffle every bear on the market. 24,000 is in sight even though it is 800+ points apart from the current level.

Home Depot (HD)

HD consolidate after it broke above $160.00 resistance. The share prices move lower from the record high and looking for support level. The $160.00 broken resistance should act as support when the price is moving near it. Traders could look for long position near the support with a stop below daily SMA 50 or 100.

Las Vegas Sands (LVS)

LVS share prices are moving near the support trendline and provide high odds trading opportunity. The share prices expected to maintain its position above the trendline with resistance around $63.50. The bounce upward has targeted at yearly high $66.22.

Twitter Inc (TWTR)

TWTR break above the daily SMA 100 and print higher high on the chart, but still far away from its previous earnings gap. The company will report earnings result on 26 October before market open. If the earnings result better than expected, it is possible the share prices will continue its upward movement to close previous earnings gap. On the other hand, worse data and lower guidance could crush the share prices and bring it down below daily SMA 200.