High end on last day of October

Dow Jones Industrial Averages futures up 26 points before market open, and the market ready for the last upward push on the last day of October. On the news, The market will digest data from consumer confidence. The Fed is also ready to kick off two days meeting to decide interest-rate.

Electronic Arts (NASDAQ: EA) and U.S Steel Corp (NYSE: X) scheduled to report earnings after market close.

Asian stock market mixed today. Nikkei down 0.06 points (-0.00%) to 22,011.61, Shang Hai Composite up 4.17 points (+0.12%) to 3,394.50, and Australia ASX 200 down 10.06 points (-0.17%) to 5,909.02. European stock market on the other hand climb today. FTSE UK up 0.11% and Euro STOXX 600 up 0.21%.

Technical Analysis

Dow Jones Industrial Average (INDU)

There is no change in the DJIA trend, the short-term and medium-term is positive. However, the index might move sideways waiting for an announcement on Interest-rate and tax reform. The Fed currently kick-off two days meeting and scheduled to announce interest-rate on Wednesday. Meanwhile, President Trump also scheduled a meeting with Paul Ryan, the house speaker before Wednesday tax-bill release.

Franklin Resource (BEN)

BEN is under pressure even though the share prices have moved above daily SMA 200. Previously, the share prices move inside broadening pattern which most of the time break downside. The bear is currently testing the support and looking for a break to confirm the pattern. On the other hand, the successful bounce will prolong the pattern.

Nike Inc (NKE)

Nike manages to claim the level above daily SMA 200 and closed the previous gap formed when the share prices slide below the averages. It is a bullish situation and the share prices supported by the daily SMA 200. Traders could look for long position near the averages and hold the position if NKE moves higher above the closed gap level.