Flat start expected for U.S stock market
DJIA futures flat before the market open which suggest the market stay sideline while U.S-China trade talks continue. We have jobless claim data which recorded the lowest claims level since 1969. Despite the slowing growth across the global world, the job market seems able to sustain the situation.
Tomorrow job data might be the final puzzle to analyze current labor market situation.
Asian & European Stock market
Asian stock market mixed. Japan stock market up 11.74 points (+0.05%) to 21,724.95, China Shanghai Composite up 30.28 points (+0.94%) to 3,246.57, and Australia ASX 200 down 52.20 points (-0.83%) to 6,232.80. European stock market takes the path lower. DAX Germany up 0.21%, UK FTSE down 0.50%, Euro STOXX600 down 0.28%.
Dow Jones Industrial Average (INDU)
No movement yet on DJIA daily chart. The index mostly sideways and waiting for a trigger for the next movement. At the current time, traders could continue to expect the index will make retest on 26,000 and target 26,951.81 all-time high when bounce happens.
Big Lots Inc (BIG)
BIG is in a correction phase as the share prices recover since the earnings gap which happens last December. There is a cluster of resistances we could see:
- Daily SMA 200
- Resistance area between $38.00 – $40.00
- Gap level at $40.26
The situation favors rejection from the cluster of resistances but we will observe how the market react to the current situation. A breakout could trigger sharp buying.
Kohls Corporation (KSS)
KSS might be an interesting share price to watch as it consistently rejected from the daily SMA 200 when attempting to move upward. Traders could expect rejection will happen again. However, we could see a bullish trendline formed on the chart and it might form an ascending triangle pattern. If KSS could close above SMA 200 then it is possible the trend will turn into bullish.