Financial sector continues to push as Tech takes a breather

$E-mini S&P 500 Futures(DEC4) (ESmain.US)$ (4 Hour Chart) -[BULLISH↗ **]We maintain our bullish conviction bias as technical picture remains unchanged. As long as price is holding above 5900 support, a further push up towards 6000 resistance is still expected. Technical indicators are starting to turn bullish with MACD showing a build up in bullish momentum.

$USD (USDindex.FX)$ (4 Hour Chart) -[BULLISH↗ *]Rise in progress. We maintain our bullish bias as long as price continues to push higher towards 107.835 resistance with 106.475 support. Technical indicators are advocating for a bullish scenario as well with bullish momentum still building.

$Gold Futures(DEC4) (GCmain.US)$ (4 Hour Chart) -[BULLISH↗ *]We turn bullish as price has pushed above 2670 resistance-turn-support level. We expect prices to continue pushing towards 2715 resistance level. Technical indicators are leaning towards a bullish scenario as well.

$Nikkei 225 (.N225.JP)$ (4 Hour Chart) -[NEUTRAL]We prefer to maintain our neutral view for now as there is no good risk-reward levels for entry. Price is still consolidating between 37630 support and 38620 resistance levels. A 4 hour candlestick closing below 37630 support would open next drop towards 36000 support level. Technical indicators are leaning towards a bearish scenario as well.

$HSI Futures(NOV4) (HSImain.HK)$ (4 Hour Chart) -[BULLISH↗ *]We turn slightly bullish as price is forming an ascending triangle. As long as price holds above 19490 support level, we expect price to push towards 19800 resistance level. A 4 hour candlestick closing above 19800 resistance level would open push towards 19990 resistance level. Technical indicators are mixed for now.

$FTSE Singapore Straits Time Index (.STI.SG)$ (4 Hour Chart) -[BULLISH↗ **]We continue our bullish directional bias as price has continued to hold above 3725 support level. We expect price to push towards 3780 resistance level. A 4 hour candlestick closing above 3780 resistance would open push towards 3820 resistance level. Technical indicators are advocating for a bullish scenario as well.

US markets closed higher last night, with $E-mini S&P 500 Futures(DEC4) (ESmain.US)$ and $E-mini NASDAQ 100 Futures(DEC4) (NQmain.US)$ drifting higher by 0.55% and 0.39% respectively. This comes after outperforming initial jobless claims and existing home sales data. Among other stocks, $Super Micro Computer (SMCI.US)$ pushed the most, climbing higher by 15.12%. $Alphabet-A (GOOGL.US)$ continued to drop 4.74% last night, after US DoJ demanded Google to sell Chrome to limit its search dominance. Traders should keep an eye out for S&P global US manufacturing and services PMI out tonight.

Asian markets open higher today, mirroring the US indices. $Nikkei 225 (.N225.JP)$ edged higher by 0.76%, after outperforming national core CPI data and au Jibun Bank Japan services PMI which came in higher than the previous month. There is further risk-on sentiment among traders as Japan government plans to invest $1.3b investment in chipmaker Rapidus. Among other stocks, $Mitsui Chemicals (4183.JP)$, $Credit Saison (8253.JP)$ and $Yokogawa Electric (6841.JP)$ climbed the most by 5.81%, 4.27% and 4.14% respectively. $HSI Futures(NOV4) (HSImain.HK)$ drifted higher by 0.44%, with electric tech sector experiencing the most strength. In the tech sector, $SUNNY OPTICAL (02382.HK)$ and $BYD ELECTRONIC (00285.HK)$ pushed higher the most by 7.29% and 6.25% respectively. $FTSE Singapore Straits Time Index (.STI.SG)$ drifted marginally higher by 0.24% this morning, with $SGX (S68.SG)$ pushing the most by 2.08%. This comes after GDP data which performed better than the previous month.

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