US Stock market Technical Analysis April 16, 2018

Geopolitical uncertainties to drive the market

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The market in the previous week traded under heavy influence of geopolitical situation. U.S-France-UK launched a military strike against Syria. The attack treated as an aggressive act by Russia and rising tension across the world. Initially, U.S-China trade war issue also takes hold on the market but ease as possible talk between two countries ongoing.

This week, the geopolitical situation should continue to influence the market and what is the best investment decision to take under current market?

The answer might be “do nothing” or “scale out” position. Prices could turn either side sharply depend on the development of the global market. Waiting for the dust settled and decided what to do always one of the best decision to take.

 

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA closed up in the previous week but shown trouble in its upward movement. The index deeply influenced by geopolitical issue concerning U.S-China trade war. Aside from trade war, the market also concerned on U.S-allies strike against Syria. The index expected to continue moving under heavy influence from the global market situation.

Caterpillar Inc (CAT)

The share prices of CAT is moving slowly downward below the red trendline and daily SMA 50&100. The downward direction has not changed yet, and CAT rejected from the SMA 100 on the last day of previous week. If the share prices continue lower, we could expect daily SMA 200 will become the target of next movement.

Nordstrom Inc (JWN)

JWN is moving inside the triangle pattern with a level around daily SMA 200 and $46.50 as support levels. The share prices experience strong downward momentum and might reach both supports level soon. Depend on the bull, if the price break and close below SMA 200, then it is time to short JWN.

3M Co (MMM)

MMM trend might have switched from bullish to bearish since the breakout below SMA 200. We have a price projection between two red trendlines where MMM expected to move between both of them. Without any close above the top trendline, MMM will continue moving down.

 

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