Queuing the dip

The stock market sustains from the sell-off on Tuesday and Wednesday promoting for upside interest. Dow Jones Industrial Averages futures also up triple-digit before market open. There is little on the economic data side today as the market waiting for lawmakers decision on spending measures. Without any agreement, the government will experience a partial shutdown.

Asian & European Stock market

Asian stock market climb today. Nikkei up 245.49 points (+1.13%) to 21,890.86, Shang Hai Composite down 47.11 points (-1.42%) to 3,262.15 and Australia ASX 200 up 13.90 points (+0.24%) to 5,890.70. European stock market, on the other hand, took a turn downside. DAX Germany down 0.99%, FTSE UK down 0.81%, and Euro STOXX 600 down 0.37%.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index escaped the sell-off yesterday and settled near its opening level. The index will continue its wild session moving up and down after this week sell-off. Fortunately, it might be the chance for bull traders who miss the rally since Trump elected as President. The bull market riding on negative sentiment and will continue until everyone turn positive on the market.

Baidu Inc (BIDU)

BIDU is moving inside the bearish channel shown on its daily chart. The share prices are currently testing daily SMA 200 and the bottom of the channel. Traders could look for long position and place the stop order below SMA 200. The upside target of the bounce could reach top of channel around $250.00 – $255.00

International Business Machine (IBM)

IBM currently traded near its daily SMA 200 after falling following the global market sell-off. If the bull could maintain a position above the averages, then we might see IBM running upside again.