Inconsistencies in China coronavirus data

The National health commission of China deducted 108 and 1,043 from previous deaths reports and infection reports. Citing there were duplicated entries in Hubei province statistics. The action invites doubt on China coronavirus data. Currently DJIA futures up 40 points and indicate slightly higher opening.

The U.S retails sales data is in the spotlight today.

Asian & European Stock market

The Asian stock market mixed as Singapore alarm risk of recession. Japan’s stock market down 140,14 points (-0.59%) to 23,687.59, China stock market up 10.93 points (+0.38%) to 2,917.01 and Australia ASX 200 up 27.00 points (+0.38%) to 7,130.20. The European stock market cautiously higher. DAX Germany up 0.20%, UK FTSE up 0.11%, Euro STOXX600 up 0.15%

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA closed near its opening level yesterday, the index hanging near the fresh high and expected to continue its bullish movement. There is no change to the situation yet and it is better to wait and see now. On the upside, 30,000 is the target.

Conoco Phillips (COP)

COP share prices hanging at the daily SMA 200 and looking to bounce higher. If a bounce happens then it might be a temporary bullish bounce. We think oil prices will continue under pressure and it will impact COP share prices. Traders could look for short positions at the current level and using $61.15 as the level to place stop orders.