China retail data to boost the sentiment

China reported the first retail sales increase since the coronavirus pandemic. The market in Asia and Europe responded positively to the result. Aside from that, the U.S stock market is also set to continue the Monday bullish movement. However, the current bullish sentiment could change drastically as technology sectors just recorded a 10% drop from the top last week.

If the current bullish sentiment switch suddenly then we might see a similar drop in share prices as happened in the previous week.

Asian & European Stock market

The Asian stock mixed. Japan stock market down 104.41 points (-0.44%) to 23,454.89, China stock market up 16.87 points (+0.51%) to 3,295.68 and Australia ASX 200 down 4.70 points (-0.08%) to 5,894.80. The European stock trade higher. DAX Germany up 0.29%, FTSE UK up 1.10%, Euro STOXX 600 up 0.74%

Technical Analysis

Dow Jones Industrial Average (INDU)

It seems DJIA could bounce from the level near the daily SMA 50. Yesterday, the index traded higher and closed near the 28,000 handles. Today, the index futures trading higher more than 150 points which indicates further upside. DJIA set to return inside the 28,000 – 29,000 area again and attempt to target the all-time high.

Las Vegas Sands (LVS)

LVS share prices slowly climb toward the daily SMA 200. The share prices almost reach the average and test it. On the upside, the $56.02 swing high will become the obstacle for the bull to bring the share prices higher. Traders will wait for a reaction between the SMA 200 and $56.02 before deciding the next direction.