US Stock Market Technical Analysis | April 20, 2021

Weakness in the technology sector to push the market lower

Free $100 Forex No-Deposit Bonus

U.S stock market set to trade bearishly for the second day. Yesterday, the index made a bearish close amid the weakness in the technology sector. The recent bearish movement was triggered by a dip in Bitcoin which dragged Tesla shares down more than 3%.

Traders and investors mostly will focus on earnings releases today. Netflix set to announce earnings result after the market close today.

Asian & European Stock market

The Asian stock market lower today. Japan stock market down 584.99 points (-1.97%) to 29,100.38, China stock market down 4.61 points (-0.13%) to 3,472.94 and Australia ASX 200 down 47.80 points (-0.68%) to 7,017.80. The European stock also on a pullback. DAX Germany down 0.98%, UK FTSE down 1.18%, and Euro STOXX600 down 1.29%

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index made a bearish close yesterday but not a significant one. The index might start moving lower today as the index futures is down 137 points at the current time. A bearish correction is healthy to happen after a prolonged bullish run. Traders will continue waiting for a bearish correction for a chance to enter long positions in equity market.

Halliburton Co (HAL)

HAL share prices seem in consolidation and currently trading between daily SMA 50 & 100. It might continue trading sideways and breakout soon. We think the bullish trend will continue and traders could use the daily SMA 100 as a place to enter long positions.

Copyright © 2021. All Rights Reserved. FXDailyReport.Com
Risk Warning: Trading CFDs is a high risk activity and you may lose more than your initial deposit. You should never invest money that you cannot afford to lose. FXDailyReport.com will not accept any liability for loss or damage as a result of reliance on the information contained within this website including data, quotes, charts and buy/sell signals. Please be fully informed regarding the risks and costs associated with trading the financial markets.