Stock market to kick-off flat session

The U.S stock market futures traded flat before the market open, hinting for a flat open. Not much clue yet on the next movement after previous bullish Monday. The overall situation is optimistic after strong manufacturing data from China and the U.S.

Today, the market will digest the release of core durable goods data which come out at 0.1% vs. 0.3% expectation.

Asian & European Stock market

Asian stock market notch gain in Tuesday trading session. Japan stock market down 3.72 points (-0.02%) to 21,505.31, China Shanghai Composite up 6.46 points (+0.20%) to 3,176.82, and Australia ASX 200 up 25.40 points (+0.41%) to 6,242.40. European stock market also marches higher. DAX Germany up 0.61%, UK FTSE up 1.04%, Euro STOXX600 up 0.33%.

Technical Analysis

Dow Jones Industrial Average (INDU)

The bull has opened the path to move higher for DJIA. In the previous trading day, the index surpassed 26,000 and close near daily high. The upward movement printed fresh high this year and opened the chance to challenge all-time high. Traders could observe DJIA near 26,000 when retest happen.

International Paper (IP)

The level around $47.50 is a major resistance for IP as the share prices always bounced lower from the level. It is currently trading near $47.50 and the daily SMA 200. Will we see a breakout above SMA 200 and movement toward $50.00? Alternatively, will we see rejection from the current level?

Tesla Inc (TSLA)

TSLA share prices are in a bearish trend as the high gets lower and the low gets lower. We could see two trendlines limiting the share prices movement and TSLA will test the top trendline soon. If a bearish pattern produced after test then traders could take short positions.