U.S futures up, bullish sentiment to kick-off the week

The stock market is set to open higher today after the previous week’s hawkish FOMC minutes of meeting release. The cryptocurrency market takes a beating as inflation fear and ban mentioned. However, the market seems will recover this week as the technology sector shows strength before the market open.

In the FOMC minutes of the meeting, the Fed hinted that the current economic policies could change depending on the data released. If the interest rate starts to increase or tapering happens then we might see a pullback in major markets.

Asian & European Stock market

The Asian stock market slightly higher. Japan Stock market 46.78 points (+0.17%) to 28,364.61, China stock market up 10.73 points (+0.31%) to 3,497.28 and Australia ASX 200 up 15.60 points (+0.22%) to 7,045.90. The European stock market also on the path upward. DAX Germany up 0.44%, UK FTSE up 0.24%, and Euro STOXX600 down 0.08%

Technical Analysis

Dow Jones Industrial Average (INDU)

We have a bounce confirmation from the daily SMA 50 and the index only needs to print a higher high to resume its bullish trend. Today, the DJIA futures pointed upward 135 points before the market open which indicates a higher opening. Will the index print a higher high and continue its bullish trend?

Paypal Holdings Inc (PYPL)

PYPL share prices have made a correction from the top of the channel and reached the bottom of the channel also the daily SMA 100. Traders now could enter long positions near the level with a stop below daily SMA 200. As long as the channel is respected then the share prices will continue its bullish trend.