U.S stock market ready to open higher today as the futures advance before market open. The market in downward sentiment after President Trump fired Rex Tillerson as Secretary of State Yesterday. However, it looks like the sentiment only temporary and become a reason for traders to enter positions at a lower level.
Investors and traders will watch retail sales data today. Upside surprise from today data could spark rate tightening fear after it eased in the recent job data.
Asian & European Stock market
Asian stock market slumped following the dump after Rex Tillerson fired. Nikkei down 190.81 points (-0.87%) to 21,777.29, Shang Hai Composite down 18.98 points (-0.57%) to 3,291.26 and Australia ASX 200 down 39.40 points (-0.66%) to 5,935.30. European stock market, on the other hand, takes an upward path. DAX Germany up 0.31%, FTSE UK up 0.40%, and Euro STOXX 600 up 0.36%.
Dow Jones Industrial Average (INDU)
DJIA rejected from the top of the triangle and currently heading down to test 25,000 support level. The level is not far away from the bottom of the triangle. We might not see further downward continuation today as the index futures pointed up almost triple digit before the market open.
American Tower Corp (AMT)
The share prices of AMT has trouble near $148 – $150 resistance level previously. There is initial rejection on the previous trading day which could lead to a correction. Traders will watch the price reaction this week at the resistance. A bearish candlestick could be taken as a short signal.
Dunkin Brands Group (DNKN)
DNKN is moving inside a triangle pattern with an upside bias. The share prices might test the bottom triangle and the daily SMA 200 before further upside. Traders will watch the price movement inside the triangle and place position as the bull managed to break and close above the top of the triangle.
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