US Stock Market Technical Analysis | October 27, 2021

Stock futures slightly higher after yesterday record high

Free $100 Forex No-Deposit Bonus

The Asian and European stock market seems trading lower today but with mild bearish pressure. Traders in Europe seem to focus on the UK budget update. Yesterday, Microsoft and Alphabet are among the companies which report earnings and topped analysts’ estimates. Roughly 30% of companies have reported earnings and 82% have topped the analyst’s expectation.

If the trend continues with strong earnings then traders will expect further upside in the stock market.

Technical Analysis

Dow Jones Industrial Average (INDU)

A new record high was printed on the DJIA index yesterday but it is the first bearish close too since two weeks ago. At the current time, the index futures are higher by 60 points and indicate a higher opening. Traders will continue to assume that the index will continue its bullish movement and wait for a bearish correction to add long positions in stocks.

Mattel Inc (MAT)

MAT share prices gapped up after the recent earnings release but it immediately fall and closed near the daily SMA 100. It seems the share prices attempting to maintain the positions above the cluster of averages and managed to print a bullish close yesterday. If MAT could bounce with strong bullish pressure then traders will expect a bullish continuation from the current level.

Copyright © 2021. All Rights Reserved. FXDailyReport.Com
Risk Warning: Trading CFDs is a high risk activity and you may lose more than your initial deposit. You should never invest money that you cannot afford to lose. will not accept any liability for loss or damage as a result of reliance on the information contained within this website including data, quotes, charts and buy/sell signals. Please be fully informed regarding the risks and costs associated with trading the financial markets.