A quick look at today: ASX went up to 7,251.3 today, gaining 0.67%.
Australia Employment Change data will be released tomorrow at 00:30 UTC, with an expected decline to 19,000.
Meanwhile, Australia NAB Business Confidence (Nov) released yesterday at 00:30 UTC with a figure of -4, while the previous figure was zero.
Technical chart analysis shows ASX 200 is 27.1 points away from testing key resistance at 7,224.2. Peaking above this level could inspire market bulls and open the path to further gains. Concerning technical analysis and more specifically, trend indicators, ASX made an initial breakout above its 21 day Simple Moving Average at 7,219.3, a potential indicator of a newly emerging bullish phase. According to asset volatility analysis, Bollinger Band® analysis indicates that current price action is approaching the upper band at 7,351.31, thereby suggesting that ASX is becoming overvalued.
Overall, while ASX has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.
ASX shows positive signs, other assets are also on par: KOSPI Composite Index is trading around 2,399.25 after ending today's session at 2,372.4 (up 1.13% today). Nikkei went up by 0.72% today, and closed at 28,156.
Meanwhile, after ending today's session at 4,019.65, S&P 500 lost 22.65 points and is trading around 3,997.
Furthermore, the market is looking at tomorrow at 00:30 UTC data for Australia Employment Change will be released, with an expected decline to 19,000 from the preceding figure of 32200.000000000004.
Also worthy of note, Australia Unemployment Rate is expected tomorrow at 00:30 UTC. Australia Full Time Employment is expected tomorrow at 00:30 UTC.
The index has been trending positively for about 2 months. After hitting an important low of 6,434.7 approximately 5 months ago, ASX has bounced back 11.94% since.