U.S stock gaining as U.S-China ready to talk

The tariff war between two countries have wreck global stock market. Uncertainties stay at high level, but there is prospect that the tariff war will pause or resolved depend on the U.S-China talk. At the current time, the market is taking a breather and will attempt to continue the upward movement. Traders will stay cautious as there is no change of market structure to bullish yet.

The next direction might depend on the talk results.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index produces gap on either up and downside. The index is looking bullish now and might attempt to close the upward gap. However, if the index lost bullish pressure,, then the downward gap will become the first to fill. Volatility will stay at high level for now, but if the index could climb and close above daily SMA 200 then the overall trend will turn bullish again this year.

We have a double bottom pattern now, a movement below the pattern will invalidate the bullish build-up.

Hims & Hers Health, Inc (HIMS)

HIMS share prices corrected all the rally which happened at the beginning of year. The share prices are currently sitting at a major support level also the daily SMA 200. It will attempt to bounce upward and start a new bullish leg. However, if the share prices fail to maintain the position above the daily SMA 200 or the $25.00 level, then the trend might turn bearish.