US Stock market Technical Analysis December 5, 2019

100 points gain in the DJIA futures

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The prospect of a deal between the U.S and China brightens again and there goes the stock market. We have hundreds of points recovery and another hundred points gain before the market open. When the comment positive then we could expect positive movement.

But traders need to wary for negative comments on the trade which could happen again later. Even though the situation full of uncertainties, traders could continue holding out to the long side and watch the technical indicator for now.

Asian & European Stock market

The Asian stock market mostly higher despite the trade uncertainties Japan’s stock market up 164.86 points (+0.71%) to 23,300.09, China stock market up 21.35 points (+0.74%) to 2,899.47, and Australia ASX 200 up 76.50 points (+1.16%) to 6,683.00. The European stock market also moves higher. DAX Germany up 0.11%, UK FTSE down 0.20%, Euro STOXX600 up 0.36%

Technical Analysis

Dow Jones Industrial Average (INDU)

A test on the SMA 50 and the level near trendline has happened and immediately DJIA bounced upward. The index set to open today’s trading session higher too. The message is simple do not short the equity market yet as the trend continues bullish.

Ball Corp (BLL)

BLL share prices are in a crossroad near the daily SMA 200. The overall trend is bullish and BLL has a chance to continue its bullish trend. However, it needs a close above the SMA 200 and the horizontal line. Traders could look for long positions near the bottom horizontal line with a tight stop below it.

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