The village chief said 10.31 market analysis, what to watch this week and what to watch today

Preface

At 2:00 a.m. this Thursday, the Federal Reserve will hold an interest rate meeting. Prior to this, the U.S. Treasury Department will announce its bond issuance plan for the next three months. Facing the sell-off of U.S. Treasuries, Powell needs to choose between a hawkish pause or a dovish pause? The Nasdaq and S&P 500 both opened up nearly 1% this week.

Market review

The market started its first wave of tentative rebound yesterday, reaching a maximum of around 34,800 and then quickly falling back to consolidate around 34,000. The market is now entering the second stage.

The first speculation: first step back to consolidate around 33000-33400 and let profit orders be shipped. If the profit orders enter small coins, the market will continue, hot spots will continue to rotate, and efforts will be made to break new highs. This is the best plan, with the highest level Or it can reach between 36000-38000.

The second possibility is to directly break a new high and reach more than 36,000, then consolidate and fall back for 4-8 hours. It can basically be judged that the market's highest point has appeared, followed by a sharp fall, consolidation, sub-new high, consolidation, and new high again. In this process, small coins surged higher and then slowly fell back.

The second pie is the same as above, but the upgrade of the second pie is now delayed. Basically, it is a follower. When the big pie goes up, the second pie goes up. When the big pie falls, the second pie falls. It is difficult for an independent market to appear.

Today’s highlights and this week’s views:

During the day, I will wait and see whether the market will fall below 34,000. If it falls below 34,000, it is expected that a small level of retracement will begin today. At least I saw around 33600. On the contrary, look at the evening, when 34,000 stabilizes and starts the charge of 34,800, and if it breaks 34,800, it will be a new high. If the price rises below 34,800 at night, you may want to wait until the price reaches 34,800. Looking at it now, the amount of funds has been enlarged and has reached a certain amount, but how many are retail investors and how many are institutional? Be cautious in pursuing higher prices.

The current upgrade of Erbing is delayed, and it is obvious that the upward trend is weak. Yesterday's highest reached around 1830, and today's highest reached around 1820, it started to step back and test the 1800 line. The big support level below is between 1760-1780. Let's see if it can stabilize in the afternoon. 1800 line, if it stabilizes, it will continue to rise, otherwise it will be a new high. The major support is between 1680-1710. If it falls between 1740-1700, you can try to place long orders. The lowest level is 1680, and the upper level is around 1850. The article contains personal opinions and does not constitute investment advice.