Dow futures edge up 47 points

European session boosted in relatively slow market, FTSE up 0.65%, Dax up 0.78%, STOXX600 up 0.76%. DJIA futures edges 47 points up as U.S dollar index lower through the Asian and European session.

Best Buy (BBY) increase sharply before market open after Tuesday earnings report beat expectation, eps come out $0.57 per shares vs. 0.43 expected. Revenue $8.533B vs. $8.392B expected.

Oil slide on Monday after Iraq announce will pump up production to fulfill its export quota; Goldman Sachs cited neither Opec freeze or dollar slide will be sufficient to support price much further.

Technical Analysis

Accenture LTD (ACN)

ACN is at the end of it triangle pattern, and the price hasn’t made a decisive move yet as it still inside box range. Observing the long term trend ACN is moving in long term bullish trend as long as it stays above $108. Placing long position will have better odds than short position.

Goldcorp Inc (GG)

Fallen to the lower channel line, GG provides us with a chance to take long positions. Without any significant news to change the trend, I think it’s safe to assume channel will be respected.

Salesforce.com, Inc. (CRM)

CRM gapped up after the previous earnings report, but price return and close the gap in less than two months. After price closed the gap, CRM is moving between $76 – $82. We can expect the price will continue moving in the rank until next major announcement. Long position from the support area to resistance box will be a good setup.

Starbucks (SBUX)

SBUX might not at an ideal place (in the middle of the range), but it is interesting to put this into watchlist as price most likely will follow the triangle range and supposedly break upside.

Twitter (TWTR)

Rally in price created higher low several days ago, and TWTR looks to find support near trendline/support line, as the bull finds support we will see price “tweeting” higher above the previous high.