Strong U.S job data to boost the market

DJIA futures are currently higher by more than 100 points after the release of strong job data. U.S non-farm employment added 943k jobs vs. 870k expectation and the unemployment rate also falls to 5.4% vs. 5.7% expectation. It seems the stock market will trade higher and there might be a new record high printed today.

Asian & European Stock market

The Asian stock market is mixed. Japan Stock market up 91.92 points (+0.33%) to 27,820.04, China stock market down 8.32 points (-0.24%) to 3,458.23 and Australia ASX 200 up 27.30 points (+0.36%) to 7,538.40. The European stock market is trading higher. DAX Germany up 0.15%, UK FTSE up 0.02%, Euro STOXX 600 up 0.05%

Technical Analysis

Dow Jones Industrial Average (INDU)

One bearish day was immediately followed by a bullish day in the DJIA index. The overall movement of the index is expected to continue ranging near the record high. At the current time, the nearest support level is the daily SMA 50 and the trendline shown on the daily chart.

Renesola LTD (SOL)

SOL share prices look trading bearishly below the trendline and are currently supported by the horizontal line around $6.75. There is the possibility of a bearish breakout below the support level. However, traders could use the support level for a chance to enter long positions with the expectation for a bullish breakout above the trendline.

At the current time, long positions are highly speculative but might reward traders if the share prices could start moving upward above the daily SMA 200.