Profit taking before holiday

Asian market and European market mostly down following previous day sentiment on U.S market. Shang Hai composite and Australian ASX 200 both are the only indices which survived selling pressure. Base on the market situation, U.S stock market might open lower as the Dow Jones Industrial Averages futures floating in negative region.

There are Core Durable Goods Orders, Final GDP, and unemployment claims data aligned today after market open which will give influence to the market.

Note: U.S stock market will close early at 1.00 PM tomorrow on shortened trading day.

Technical Analysis

Dow Jones Industrial Averages (INDU)

Holiday is coming in, and Dow Jones Industrial Averages have not yet touched the 20,000 psychological mark. The market might swing to negative today and start correction if it formed the bearish candlestick. There are several important news which might turn the overall sentiment today.

Autodesk Inc (ADSK)

ADSK is moving lower after it printed new high, the price might find support near the daily SMA 50. Otherwise, it will continue fall and reach the support trendline.

Quintiles IMS Holding (Q)

Ascending triangle pattern formation in the Q shares. Previous day falling price will lead the price lower toward the blue trendline. If the price able to withstand the bearish pressure and formed bullish pattern near the trendline, then it will produce long opportunity.