DJIA Apple drive rally

U.S stock market poised to open higher today after the previous day excellent report from Apple Inc (NASDAQ: AAPL). Currently, Dow Jones Industrial Averages futures gained 38 points, off 70 points from high. The bullish sentiment started in Asia. However, in Europe, the sentiment turned bearish as banking sector retreat, and UK PMI underperform.

Nevertheless, DJIA expected to grasp 22,000 handles today if there is no surprise from news or major company report. The news to watch today is the ADP Non-farm employment data on 08.15 a.m Eastern Time.

Earnings & Corporate report

Mondelez International (NYSE: MDLZ) reported earnings per share of $0.48 vs. $0.46 expectation. Revenue comes out at $5.99 billion vs. $6.00 billion consensuses. Share prices up 1.3% to $44.19.

Time Warner (NYSE: TWX) reported earnings per share of $1.33 vs. $1.19 expectation. Revenue comes out at $7.33 billion vs. $7.34 billion consensuses. Share prices up 1.3% in the pre-market trading session.

Tesla (NASDAQ: TSLA), Fitbit Inc (NYSE: FIT), and American International Group (NYSE: AIG) are among companies which report earnings after market close.

Other market

Asian stock market mixed despite the positive cue from AAPL earnings result. Nikkei up 94.25 points (+0.47%) to 20,080.04, China Shang Hai Composite down 6.62 points (-0.20%) to 3,286.02, and Australian ASX 200 down 28.17 points (-0.49%) to 5,744.20.

Technical Analysis

Dow Jones Industrial Averages (INDU)

DJIA will reach 22,000 today, and the next question revolves around where it might go next? This is a hard question especially when we weigh the underlying factors in the market. First, we have a string of strong company results which support further appreciation of the index. Buy, on the other

However, on the other hand, political side show rising uncertainties. No, revamp in the healthcare bill might lead to “No” to the tax plan and “No” to Donald Trump. We see a heavy change in the cabinet member one day it was Mr. A, then another day it is Mr. B in just under one month.

Will DJIA continue further upside and reverse its direction as soon as the cabinet explode?

Hawaiian Elec (HE)

HE is moving inside interesting pattern where there are multiple tops followed by a lower low. The price once broke below its daily SMA 200, but recovered and currently target the multiple tops around $34.00. Traders could look for short position near the top or long position when the price hit lower trendline.