Time for the bull to pause in stock market?

U.S stock market futures trade lower in today’s trading session before the market opens. The bearish reaction might be temporary and normal after several days of gain. At the current time, DJIA futures down 72 points and indicate rejected from the daily SMA 200 in the DJIA index.

Despite the current bullish movement, June is important to gauge the continuity of the current bullish trend. If data show sharp decline instead of further recovery then traders will prepare for a possible downturn.

Asian & European Stock market

The Asian stock market mixed today. Japan stock market up 81.98 points (+0.36%) to 22,695.74, China stock market down 4.12 points (-0.14%) to 2,919.25 and Australia ASX 200 up 50.20 points (+0.84%) to 5,991.80. The European stock market mostly lower. DAX Germany down 0.51%, FTSE UK down 0.11%, Euro STOXX 600 down 0.54%

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index has reached the daily SMA 200 and closed near it. The index will wait for a further reaction from the averages. If the bullish breakout happens then it will need to maintain strong momentum to turn the trend into bullish again for the long-term. A breakout could be followed by a sudden bearish reversal.

No conclusion yet at the moment and traders will continue waiting for reactions.

Expedia Group Inc (EXPE)

EXPE share prices continue its bullish correction and have surpassed the daily SMA 100. The share prices soon will reach the major horizontal level and the daily SMA 200. Traders will observe the reaction near both levels for the opportunity to enter short positions.