Dow futures up up 200+ on tax-reform

The progress of tax-reform leads the market to optimism after Senate pass the tax-bill on the weekend. This is a major victory for Republican, and President Donald Trump which previously seen might not be able to deliver. Meanwhile, the market shifted their focus away from political uncertainties over probe on Russia. When the market refocuses back into the probe, the index might start moving down.

Asian & European Stock market

Asian stock market mixed today. Nikkei down 111.87 points (-0.49%) to 22,707.16, Shang Hai Composite down 7.25 points (-0.22%) to 3,310.37 and Australia ASX 200 down 4.17 points (-0.07%) to 5,985.59. European stock market rallied after battered in Friday session. DAX Germany up 1.21%, FTSE UK up 0.74%, and Euro STOXX 600 up 0.77%.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index ready to open higher today as the futures pointed 200 points upward. Traders could expect the index will reach 25,000 psychological level soon.

Alphabet Inc (GOOG)

GOOG is in an uptrend, and the share prices experience correction from the top. The target of this correction lies between gap close ($997) and daily SMA 50. $1,000 is notable round number to watch where traders could look to place long position near it.

Micron Technology (MU)

MU share prices grazed $50.00 round number and lost almost 20% of its value in just five days. The share prices look found support at $40.00 in the previous week. If the bull manages to hold the prices above $40.00 and close above Friday high, MU could build new bullish leg to target $50.00 and beyond.