Flat day ahead after Monday TPP withdrawal

The market in the Asian and European region mostly positive today despite the first policy of President Trump to withdraw U.S from TPP. The withdrawal impact is not clear yet, but the short-term effect would be giving China blank space to take the free-trade agreement.

No major news on the schedule today, the market might continue in rangebound trading until more announcement of President Trump economic policies.

UK Article 50

Supreme Court of UK rules out decision that government needs parliament approval to trigger Article 50. The decision mean no hard Brexit shortly. This ruling is bullish and might trigger risk mode on the equity market. Though all bullish sentiment should wait until the further announcement from the government about the article 50.

Technical Analysis

Dow Jones Industrial Averages (INDU)

No change in the Dow Jones Industrial Averages Index. It will continue between the newly established range and judge from the transaction volume. We might see another push above resistance soon.

Baidu Inc (BIDU)

The bull grasped back control above daily SMA 200. The price currently testing the averages and looks to continue its upward movement. 185 is the level to watch if the bounce confirmed, on the downside we have $168 – $172 as a support level.

Dunkin Brands Group (DNKN)

Failure to close above the bullish engulfing pattern written on January 5, 2017, analysis, DNKN provide another chance for a long position, the price formed bullish engulfing pattern again near its daily SMA 100. If it can close above the bullish pattern, then the stock should continue higher toward the upper channel.