U.S stock market waiting for a catalyst to move

DJIA index suffers a small setback yesterday despite the strong performance by Nasdaq and S&P500. Today, DJIA futures up 36 points at the current time. The index might attempt to move higher again, however, we think the market will wait for stimulus bill negotiation.

Both Republicans and Democrats are on a stalemate regarding the stimulus bill. Without a deal, the stock market might turn cautious and start moving lower again. Traders and investors will monitor earnings report from Home Depot (HD), Walmart (WMT), and Kohl’s (KSS).

Asian & European Stock market

The Asian stock mixed today. Japan stock market down 45.67 points (-0.20%) to 23,051.08, China stock market up 12.29 points (+0.36%) to 3,451.09 and Australia ASX 200 up 47.00 points (+0.77%) to 6,123.40. The European stock market make bullish recovery. DAX Germany up 0.49%, FTSE UK up 0.18%, Euro STOXX 600 up 0.25%

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA continue trading sideline, waiting for a trigger to move. The index movement limited below 28,000 and might start a bearish correction toward 27,000 before continuing higher. At the current time, traders and investors eye the coronavirus stimulus bill negotiation. The movement might happen after the negotiation reach a deal.

Twilio Inc (TWLO)

TWLO share prices are in a bearish correction phase. The share prices look forming bottom near the daily SMA 50. Traders could use the averages and horizontal level to look for long positions. If the share prices continue lower then traders will observe the reaction near $210.00