Stock futures slightly lower after first bearish day

Investors and traders are on alert as Georgia runoff election started. The sentiment looks bearish as there is chance that Republic might lost its control on Senate. If Democrat secure the Senate then tax rates and progressive policies could weigh the market.

At the current time, traders might want to stay careful as the market also set to start a bearish correction.

Asian & European Stock market

The Asian stock market mixed today. Japan stock market down 99.75 points (-0.37%) to 27,568.15, China stock market up 25.72 points (+0.73%) to 3,528.68 and Australia ASX 200 down 2.30 points (-0.03%) to 6,681.90. The European stock market mostly lower. DAX Germany down 0.41%, UK FTSE down 0.06%, and Euro Stoxx600 down 0.35%.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA kick-off the year with strong bearish close. The bearish movement mostly might be related to the runoff election in Georgia. At the current time, DJIA index could continue lower and target a retest on 30,000 handle. In the long-term we still think the index will continue its long-term uptrend.

Dropbox Inc (DBX)

DBX share prices is in a bearish correction after it reach as high as $25.16. The share prices soon will reach the cluster of averages where traders could consider entering long positions. Traders will wait for bullish close on the daily chart before consider long positions.