Session before holiday

Holiday season started with Italian Monte Dei Paschi di Siena bailout. Asian session mostly negative while European market little changed before U.S market open. There is not much to expect in today trading session. Deutsche Bank agreed to pay $7.2 billion fines on its toxic mortgage deal.

Technical Analysis

Dow Jones Industrial Averages (INDU)

Dow Jones Industrial Averages stay near the record high, volume declining, but still higher than average daily volume. The index might try to reach 20,000, but it looks like a distant target as today trading day shortened with the market close at 01.00 PM.

If this week it could not reach 20,000, the market might try it again under thinned trading volume next week.

Aetna (AET)

AET has very strong resistance area between $121 – $123. This resistance area was broken last month, and the price keeps moving higher in strong momentum. Currently, it finally coming down and re-test the area and formed bullish pin bar pattern. If we have breakout confirmation above the candlestick, AET will continue higher.

Other Watchlist

MRK – the price touched its daily SMA 200 second time, might break lower if failed the test.

TGT – sharp drop toward its daily SMA 200, the high probability the price will continue lower.

JWN – bearish candlestick close lower below daily SMA 200, failed on re-test will put the price lower.

ACN – gapped down near its daily SMA 100, look for bullish setup at this level.

KR – possible bullish position when the price challenges its daily SMA 200.

APD – Bull trader will look for an opportunity near the daily SMA 200.

WMT – Big bearish candlestick thrust below the SMA 200, might continue lower today.