U.S stock sideways

At the start of the day, major indices take a bearish turn, but not for a very long time. After the afternoon break, major indices show bullish sentiment and start recovering. At the current time, most of the major indices trading near the opening level. We might see the major indices trading sideways for now until there is news regarding tariff war or economic data releases, companies earnings report.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index stuck near the 40,000 level for now. This week, traders will focus on the release of job data, cautiously monitor the development of tariff war. If the index resumes the bullish movement, then we could expect it to close the previous bearish gap. However, the current situation could move the index both direction so traders will wait until movement with strong momentum happen.

Verizon Communication, Inc (VZ)

VZ share prices looks supported by the daily SMA 200 and currently undergo third test. If the share prices could continue to maintain the position above the averages then traders could expect bullish bounce to happen. However, if bearish breakout happen then we might see a close below the daily SMA 200 and continuation lower to target previous swing low.