Quiet market tonight as eyes turn to tech earnings next week

$E-mini S&P 500 Futures(DEC4) (ESmain.US)$ (4 Hour Chart) -[BULLISH↗ **]We continue to maintain a bullish directional bias as price continues to hold above 5850 support level. We expect prices to push towards 5940 resistance level. Technical indicators are leaning towards a bullish scenario.

$USD (USDindex.FX)$ (4 Hour Chart) -[BULLISH↗ *]We continue to stay bullish as price has continued to push above 103.656 resistance-turn-support level. As long as price holds above 103.656 support level, we expect price to continue pushing towards 103.991 resistance level. Technical indicators are leaning towards a bullish scenario as well.

$Gold Futures(DEC4) (GCmain.US)$ (4 Hour Chart) -[BULLISH↗ **]As expected, price pushed above 2710 resistance level. We continue our bullish view as we expect price to continue pushing towards 2745 resistance level. A 4 hour candlestick closing above 2745 resistance level would open next push towards 2765 resistance level. Technical indicators are leaning towards a bullish directional bias.

$Nikkei 225 (.N225.JP)$ (4 Hour Chart) -[BEARISH ↘ *]We continue our bearish directional bias as we expect price to drop towards 38650 support level as long as it holds below 39900 resistance level. Technical indicators are leaning towards a bearish scenario as well.

$HSI Futures(NOV4) (HSImain.HK)$ (4 Hour Chart) -[NEUTRAL] We turn neutral as price hovers between 20840 resistance and 19700 support level. A 4 hour candlestick closing above 20700 support level will open push towards next resistance at 21525. Technical indicators are leaning towards a bearish momentum.

$FTSE Singapore Straits Time Index (.STI.SG)$ (4 Hour Chart) -[BULLISH↗ *]We continue to maintain our bullish directional bias. As long as price holds above 3620 support level, we expect price to push towards 3640 resistance level. Technical indicators are leaning towards 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 0.41% and 0.09% respectively. This is due to outperforming retail sales and Philadelphia Fed Manufacturing Index data last night. $Taiwan Semiconductor (TSM.US)$ announced a forecast-beating profit amid surging demand for chips, lifting the semiconductor sector. The recent economic data has hinted at clues to a soft landing and traders are currently leaning towards a 25-basis-point rate cut at the Fed's next meeting. Traders should stay cautious as markets observe the rising geopolitical tension in the Middle East after the death of Hamas leader Yahya Sinwar. There is no key economic data tonight and traders can look forward to the tech earnings next week, with $Microsoft (MSFT.US)$ , $Alphabet-C (GOOG.US)$ , $Meta Platforms (META.US)$ , $Apple (AAPL.US)$ , $Amazon (AMZN.US)$ earnings coming.

Asian markets open mixed today. $Nikkei 225 (.N225.JP)$ remains unchanged. There is risk-on sentiment among traders after CPI data came above analyst expectation. Among other stocks, $Disco (6146.JP)$ climbed the most by 6.58%. $HSI Futures(NOV4) (HSImain.HK)$ edged marginally higher by 0.81%. This comes as GDP data came as expected. Electric tech advanced the most, with $BYD ELECTRONIC (00285.HK)$ and $LENOVO GROUP (00992.HK)$ pushing the most by 3.95% and 3.67% respectively. $FTSE Singapore Straits Time Index (.STI.SG)$ drifted marginally higher this morning by 0.10%. Among the Big 3 banks, $UOB (U11.SG)$ climbed the most by 0.89%.

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