Brewing anxiety before inauguration

Global market waiting for the inauguration and the unleash of the new era of Trumponomic. The event accompanied by anti-Trump protest from all side, the numbers projected several hundred thousand would join outside of the inauguration place.

In Asia, Nikkei and Shanghai Composite both end in the positive area. While Australia ASX 200 end in negative. The market in European session mostly flat in wait and see mode.

Technical Analysis

Dow Jones Industrial Averages (INDU)

The index printed five consecutive declines and almost close outside of the sideway range. Today market might initiate new trend either with bounce, close lower, or break and return inside the range. It is better for the market to have a false breakout lower then followed by a sharp bullish turn.

Aetna (AET)

Another bullish candlestick pattern emerges in AET, this time when the stock tipped the daily SMA 100. The pattern is valid and favorable for the bull, but it needs confirmation close above the candlestick pattern. If the price manages to bounce, then we might see it near the $136.5 high.

Philip Morris (PM)

Short-term bullish outlook in PM continue, but it will reach the first hurdle which will hinder the uptrend. PM might bounce from its daily SMA 100 and move lower to find support at the bottom of the channel. The final target of upward movement for PM is the daily SMA 200. Traders will look for a short opportunity near the averages.

Other Watchlist

MRK – the price moving back near its daily SMA 200

BK – worse than expected earnings put the price down and near its daily SMA 100, might move lower toward SMA 200.

CRM – Price creep higher and close to the daily SMA 200. There are several candle closes near the averages, and the price might blow the resistance away.