More bearish start for DJIA

The stock market in the United States fell yesterday on reaction toward President Trump immigration order. The immigration order incites protest around U.S also the world. Attorney General, Sally Yates fired by President Trump after her refusal to defend travel ban. Wallstreet ready for another bearish day as the index futures pointed to negative 20 points before market open.

Asian session mostly negative with all major indices retreats, except Chinese stock market which is on holiday. On the other hand, European stock market posted gain across the board. Interesting news from Deutsche Bank, the bank fined another $204 million by FCA after it pays $630 million in the previous probe.

Technical Analysis

Dow Jones Industrial Averages (INDU)

Sharp sell-off Yesterday put Dow Jones Industrial Averages down nearly 215 points from Friday closing level. The index back below 20,000 and waiting for next scenario. It might continue moving upward or moving inside the consolidation range.

Atwood Oceanic (ATW)

Box formation spotted in ATW Daily chart. Traders will expect a bounce from the lower part of the box but need to be careful as there is long momentum bar hitting the bottom of the box. Wait until bullish formation formed to enter a position.

Potash Saskatchewan (POT)

POT is testing its horizontal support and its daily SMA 50. There is bearish engulfing pattern preceding the candle at support which indicates strong selling pressure. If the price cannot maintain its support, POT should continue lower.