U.S job data major disappointment to weigh on the market

The overall sentiment is bullish for this week, however, U.S job data seems to dampen the mood. Non-farm employment show an increase of 235k compared to a 720k increase. It is a major miss from the growth side but might become an indicator for the Fed to delay its tapering plan.

It seems the resurgence of covid cases takes a toll on the recovery process and traders will eyes closely on the next data releases.

Asian & European Stock market

The Asian stock market is traded mixed. Japan Stock market up 584.60 points (+2.05%) to 29,128.11, China stock market down 15.31 points (-0.43%) to 3,581.73, and Australia ASX 200 up 37.20 points (+0.50%) to 7,522.90. The European stock market also mixed. DAX Germany down 0.02%, UK FTSE up 0.17%, Euro STOXX 600 up 0.31%

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index printed a bullish close yesterday and is expected to continue to stick near the top. The index might not move much today as the DJIA futures currently trading near the flat level. Nevertheless, the index might continue moving upward to print record high or start a correction toward the daily SMA 50 & 100 again.

Union Pacific Corp (UNP)

UNP share prices have made bearish corrections and reach the daily SMA 200. The share prices show a bounce reaction and might start moving higher again. On the upside, the daily SMA 50 & 100 are resistances levels to watch for possible reversal.