On 27/10/2021 TraderTalent.com is bringing you another guest post from Bryan Noble.

U.S. Equity Markets gained on Tuesday, but finished the day largely mixed after a late sell-off which saw the Dow close unchanged while the S&P closed at a new all-tine high with a gain of 0.18%. Markets trended higher on strong economic data despite some pressure on the technology industry thanks to Facebook’s (FB) Third-Quarter revenue miss. Data from the U.S. Commerce Department showed that sales of newly constructed homes increased by 14% in September from the month prior to an annualised rate of 800,000 units versus Wall Street’s anticipated 760,000. Meanwhile, research organisation The Conference Board reported a substantial increase in Consumer Confidence, hitting 113.8 in October from September’s 109.8. The Present Situation Index rose from 144.3 to 147.3, and the Expectations Index increased from 86.7 to 91.3. In the S&P 500, nine of he eleven sectors closed higher. European Markets closed in positive territory. Britain’s Brexit Minister David Frost said gaps with the European Union regarding the flow of goods from Northern Ireland remain significant, potentially putting the trade agreement at risk. European Union member countries are said to be at odds over how to resolve the current increase in energy prices, with policy divisions emerging between the South and North. Iran’s Deputy Foreign Minister Ali Bagheri said he will meet with the European Union’s Deputy Foreign Policy Chief Enrique Mora Wednesday to try and revive the 2015 nuclear accord. European Union COVID-19 vaccinations increased to 581.8 million, with over 63.6% of its residents having been fully inoculated. In Asia, The People’s Bank of China added roughly $31 billion to the financial system via reverse repurchase operations to ensure ample banking liquidity. Continued Japanese Yen weakness boosted the earnings outlook for Japanese exporters like electronics companies and semiconductor manufacturers. South Korea’s preliminary third-quarter gross domestic product (“GDP”) data was weaker than expected, falling compared with the second quarter due to COVID-19 restrictions putting pressure on output. Taiwan’s industrial production figures for September exceeded expectations, as manufacturing of semiconductors and electronic parts hit the best levels this year. Elsewhere, Oil closed 1.09% higher on the ongoing supply crunch, while Gold fell 0.80% on renewed Dollar strength.

To mark my 2425th issue of TraderNoble Daily Commentary I am offering a special 2-Year Rate of Euro 2750 for my Platinum Service which includes 1 to 4 updated emails throughout the trading day To demonstrate this value, a monthly subscription over the same period would cost 4440 euro in total This offer represents a 38% discount and is open to both new and existing members. If anyone is interested in this offer can you please email me on [email protected] for details

For anyone following my Platinum Service it made 138 points yesterday and is still ahead by 849 points for October after making 2866 points in September, having closed August with a gain of 1543 points, and 996 points in July. The Platinum Service made 1366 points in June, 1439 points in May, 1244 points in April, having ended March with an impressive gain of 3769 points, 3286 points in February, 2077 points in January, and 2273 points last December. Since I started this New Platinum Service in June 2015 it has averaged a monthly gain of over 1600 points

Equities

The S&P 500 closed 0.18% higher at a price of 4574.

The Dow Jones Industrial Average closed 15 points higher for a 0.04% gain at a price of 35,756.

The NASDAQ 100 closed 0.29% higher at a price of 15,559.

The Stoxx Europe 600 Index closed 0.6% higher.

Yesterday, the MSCI Asia Pacific Index rose 0.6%.

Yesterday, the Nikkei closed 1.77% higher at a price of 29,106.

Currencies

The Bloomberg Dollar Spot Index closed 0.1% higher.

The Euro closed 0.1% lower at $1.1594.

The British Pound closed 0.1% lower at 1.3753.

The Japanese Yen fell0.4%, closing at $114.11.

Bonds

Germany’s 10-year yield closed one basis points lower at -0.13%.

Britain’s 10-year yield closed five basis points lower at 1.09%.

US 10 Year Treasury closed two basis points lower at 1.61%.

Commodities

West Texas Intermediate crude closed 1.09% higher at $84.65 a barrel.

Gold closed 0.80% lower at $1,793.10 an ounce.

This morning on the Economic Front we have German GFK Consumer Confidence at 7.00 am. This is followed by Euro-Zone Money Supply at 9.00 am and US. MBA Mortgage Applications at 12.00 pm. At 1.30 pm we have Wholesale Inventories, Durable Goods Orders and the Trade Balance. Finally, at 3.00 pm we have the Bank of Canada Rate Decision at 3.00 pm.

December S&P 500

The Cash S&P made a new all-time high of 4598 before falling 30 Handles into the close after one of the biggest melt-ups in the history of the S&P since the 4278 October 4 low. Tesla CEO Elon Musk is now worth $252bn while Amazon’s Jeff Bezos a cool $193bn. The wealth that the Fed have created for certain companies and individuals since they started the QE process in 2009 is just plain wrong as the wealth inequality widens even more Remember as a company Tesla and still not made a profit while Market Cap to GDP has widened to a record 209%. Yesterday’s move higher saw the S&P hit my third sell level at 4581, for a 4571 average short position. The late sell-off saw my revised 4562 T/P level filled and I am now flat. The S&P has resistance from 4585/4600 where I will again be a seller with a 4611 ‘’Closing Stop’’. For the Bears to make a stand we need to see the 4540 level broken by Friday. I will be a small buyer from 4520/4535 with a 4507 ‘’Closing Stop’’. If I am taken short I will have a T/P level at 4572. If I am taken long I will have a T/P level at 4548.

EUR/USD

I am still flat the Euro as I will again lower my sell level to 1.1640/1.1690 with a 1.1725 tight stop. I still do not want to be long the Euro at this time. If I am taken short I will have a T/P level at 1.1610

December Dollar Index.

No Change. I am still a seller from 94.20/94.70 with the same 95.01 stop. If I am taken short I will have a T/P level at 93.95.

December DAX

I am still flat the DAX as the market made a new recovery high at 15767 yesterday afternoon. I will now raise my buy level to 15440/15510 with a higher 15365 stop. If I am taken long I will have a T/P level at 15560.

December FTSE

I am still flat the FTSE as the market again missed my sell level before having a small sell-off into the close. Today, I will raise my sell level to 7280/7330 with a 7365 stop. If I am taken short I will have a T/P level at 7240

Dow Rolling Contract

Yesterday’s early rally carried the Dow to yet another new all-tine high at 35898, before the market has small 120 point sell-off into the close. When GDP is released on Thursday it will probably print below 2%, way below the original 6.5% forecast made in late July. No matter the Dow just keeps melting up led by the Central Banks aggressive $120bn Monthly QE. The crazy scenario is that if we do get a 10% correction we will see more QE as it is the only policy that the Fed, ECB and Bank of Japan will pursue at this time. Today, I will lower my sell level to 35950/36120 with a lower 36305 ‘’Closing Stop’’. Meanwhile, I will continue to be an aggressive buyer from 35350/35510 with the same 35195 ‘’Closing Stop’’. If I am taken long I will have a T/P level at 35680. If I am taken short I will have a T/P level 35810.

December NASDAQ

The NASDAQ traded higher to my second sell level at 15610 (high 15698) for a 15560 average sell level before trading lower to my revised 15512 T/P level and I am now flat. The NASDAQ has resistance from 15630/15750 where I will again be a seller with a 15835 ‘’Closing Stop’’. Yesterday’s recovery high sees the NDX rally over 1500 points in less than three weeks. We have short-term support from 15210/15310 where I will be a buyer with a 15135 ‘’Closing Stop’’. If I am taken short I will have a T/P level at 15560. If I am taken long I will have a T/P level at 15390.

December BUND

I am still flat. I will now raise my buy level to 167.70/168.20 with a 167.25 stop. If I am taken long I will have a T/P level at 168.55

Gold Rolling Contract

I am still flat. As I am now long Silver I will lower my buy level to 1752/1767 with a 1739 stop. If I am taken long I will have a T/P level at 1776

Silver Rolling Contract

Silver traded lower to my 24.00 buy level. I am still long with a lower 24.30 T/P level. I will add to this position on any further move lower to 23.40 while leaving my 22.85 stop unchanged.

Your Platinum Subscription intraday updates will appear here once they are published.

Hi Everyone

The NASDAQ hit my 15630 initial sell level before selling  off and I have now exited this position here  at 15574
Kind Regards
Bryan
Update 2
Hi Everyone

Markets were certainly volatile after I sent my last update. All three US Indexes rallied before getting hit hard in the last hour of trading
This move lower saw the Dow close on the low of the day at 35490, hitting my 35500 buy level in the process.
I will now lower my T/P level on this position to 35565
Kind Regards
Bryan
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