U.S stock futures sideway before the first presidential debate

The U.S stock futures trading sideways before the market open following the massive bullish movement yesterday. Traders and investors seem to wait for development from the political side at the current time. Moreover, the coronavirus relief bill also under focus this week.

If the bill is approved then we might see a further rally in the stock market.

Asian & European Stock market

The Asian stock market mixed today. Japan stock market up 27.48 points (+0.12%) to 23.539,10, China stock market up 6.82 points (+0.21%) to 3,224.36 and Australia ASX 200 down 0.20 points (-0.00%) to 5,952.10. European stock market mostly lower, DAX Germany down 0.43%, UK FTSE down 0.45%, and Euro STOXX600 down 0.32%.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA might be on the path higher after two days bullish close. However, the upward movement might be stopped at the daily SMA 50. At the current time, the index might trade between the daily SMA 50 & 200. If lower low printed below the daily SMA 200 then traders will prepare for a deeper bearish correction.

Public Service Enterprise GRP (PEG)

PEG share prices trading inside an ascending triangle pattern and have moved above the daily SMA 200. the share prices are expected to continue its movement inside the triangle pattern and eventually breakout higher. Traders could use the bottom of the triangle or the daily SMA 200 as levels to look for long positions.