Swift movement by the bull in the previous trading session saved U.S stock index from closing lower. Today Dow Jones Industrial Averages Futures add 34 points before market open and indicate bullish session. There are no major political and economic news to watch today which helped for the bull.
The market will return next week to watch the development of Trump Russia scandal. Meanwhile, the index in Asia increases with exception Australia ASX 200 which down 0.19%. All of the major indices in Europe gaining after Greece pass the austerity measures.
U.S dollar index dropped today, releasing all gains from previous trading days. The index looks weak and might give up more ground following political issue.
Dow Jones Industrial Averages (INDU)
The index quick slide after political turmoil followed by quick rebound near the daily SMA 100. As the futures pointed higher and no major news to become the catalyst for movement, the index expected to move less than 100 points. Without any significant change, we will expect DJIA is bouncing back and forth inside 20,400 – 21,000.
EBAY Inc (EBAY)
EBAY fell lower yesterday, but it manages to bounce and close as bullish pin bar. The bullish pin bar touched daily SMA 100 and the top of the blue channel. If the price continues higher today above $33.91, it has a chance to test $34.87 high.
Illinois Tool Works (ITW)
The healthy bullish trend shown on ITW daily chart, the price bounce from the support trendline each time it touched. Currently, traders have a chance to enter the long position in the shares with low risk. There is high chance the price will continue bouncing from the trendline. However, if the price slide lower, daily SMA 100 is the place to see if traders should bail or stay in the trade.
MMM – the price is near the daily SMA 50, possible bounce coming soon.
AA – bullish candlestick near the daily SMA 200, more upward if the price close higher today.
SBUX – massive bullish pin bar, if the candle is broken, it might turn into a bullish continuation.
S – A close back above the daily SMA 200 is significant. Look for breakout above $8.00
IP – the price approaching its daily SMA 200, might produce a bullish pattern and bounce from the averages.
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