Wallstreet continue higher

Mix performance from Asian market today, Nikkei down 0.26%, Shang Hai Composite up 1.15%, and Australia ASX 200 up 0.40%. European market also starts with mix performance as FTSE UK up 0.12%, DAX Germany up 0.09%, and Euro STOXX 600 down 0.05%.

Despite the mix performance, Wallstreet and U.S dollar index continue higher. The only major news today is the U.S crude oil inventory with an expectation of deficit 2.4 million barrels.

Technical Analysis

Dow Jones Industrial Averages (INDU)

The index is getting closer to the 20,000 psychological level. The absence of important news might help the index reach it today. After the index reaches the level, it could either move up sharply to trigger short squeeze, or it will form a bearish pattern and reverse the trend.

Alibaba (BABA)

BABA break lowers below the bullish blue trendline. The price close the gap level and reach support SMA 200, if BABA cannot bounce from this level and close below the SMA 200, then it will continue moving lower.

Potash Saskatchewan (POT)

Rally in POT reversed as soon as it reached $19.88, just 12 cent below the $20 psychological level. It currently back below the broken $18.50 resistance, but the re-test is not done yet. If the price can close back above the $18.50, it will have an opportunity to challenge the $19.88 – $20 resistance.