Interest rate concerns continue as BOE raise rates and ECB opens the door for a hike in 2022. Facebooks weak report weighs on Tech shares from the open while Amazon beats earnings after the bell.
The SPI200/ASX200 both went in one direction from the start of the European session until the close of the US. Both are down into support where I will be watching for a reaction from buyers. If there is no support, then we are heading lower into the weekend ahead of the US employment data release. The DOW moved down off the 35670 level taking out the 35330 area along the way. Expecting more weakness as bulls remain concerned with coming rate rises. The key will be the employment data release ahead of the open. The Hang Seng is open today (as I understand) but I will not be interested in trading it until the open has worked itself out. Need to see the open to plan out the levels fully. The Nikkei moved down off 27285 after holding the level for most of the Asian and European market sessions. Price pushed down into 27010 and I expect to see a flush of sellers before any continuation down. Watching for either a higher low off 27010 for longs or lower high for shorts.
Cryptos had a generally rangebound session although prices look heavy. Bitcoin is hovering around 36550 support which I am looking to be broken and see a move lower. Ethereum is holding below 2638 but found minor support at 2583. Expecting more pressure to the downside also.
Spot Gold had a big flush down through 1793 at the start of the US session before ramping straight back up into 1807. Will be watching for more weakness to come off 1807 but expect that the action will largely be contained until the employment data release in the US.
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Hang Seng Index