US Stock market Technical Analysis August 14, 2020

Negative DJIA futures while coronavirus stimulus bill negotiation continue

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DJIA index could not add gain yesterday despite the better than expected unemployment claims data. Traders and investors seem weighing on the coronavirus stimulus negotiation.

The negotiation ended in stalemate and more discussion will be hold. DJIA futures currently lower nearly 200 points and suggested bearish opening.

Asian & European Stock market

The Asian stock mostly higher today. Japan stock market up 39.75 points (+0.17%) to 23,289.36, China stock market up 39.37 points (+1.19%) to 3,360.10 and Australia ASX 200 up 35.20 points (+0.58%) to 6,126.20. The European stock market mostly lower. DAX Germany down 1.27%, FTSE UK down 2.15%, Euro STOXX 600 down 1.65%

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index progresses upward and shows no major bearish reaction yet. The index might continue to maintain its bullish pressure as lawmakers discussing stimulus bills.

However, if the index moves lower then 27,000 will become the level to watch.

Hilton Worldwide Holdings (HLT)

HLT share prices reached the daily SMA 200 and formed a bearish engulfing pattern. The share prices might start moving lower again after the pattern confirmed. Traders could use daily SMA 200 as the level to take short positions.

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