The party is not over for Wallstreet

The hustle and bustle of the global market put major Asian indices in optimistic stance as Nikkei gained 0.66%, Shang Hai Composite gain 0.20%, but Australian ASX 200 fall 0.10%. European session also plays in the positive region with UK FTSE up 0.24%, Dax Germany up 0.28%, and Euro STOXX 600 up 0.25%.

U.S market futures also advance before market open which indicates another test toward 20,000 in the Dow Jones Industrial Averages. No major news release today, the only news release the market need to watch is the U.S building permits with estimated 1.24 million new permit.

Technical Analysis

Dow Jones Industrial Averages (INDU)

After the index corrected in recent rate increase by the Fed, it continues moving upward even though no new record high printed yet. The Dow Jones Industrial Averages Futures pointed to another bullish opening as the futures gained +40 points before market open.

No bearish confirmation yet in the index, but no cancellation too on the bearish engulfing pattern after the Fed interest-rate announcement.

Hasbro Inc (HAS)

HAS under pressure and the share price corrected near its daily SMA 200 and also the S-R level $83. This is an opportunity for the bull to take a position in the stock, but traders need to wait for bullish setup before placing position as the momentum of fall is strong.

Nordstrom (JWN)

The share price of JWN undergo a healthy correction and moving toward its SMA 50 and the bullish trendline. If the price can stage a bounce from this level, then the bullish trend should continue. However, a break lower than the trendline could put overall bullish trend under threat.

Other Watchlist

YHOO – first time close below its daily SMA 200. A bearish indication and possible to fall further, especially after the company announces more vulnerability to its user.