China’s data to bring the U.S stock market higher

A phase one trade deal between U.S and China helped the global stock market to advance. No change to the current positive sentiment yet in the market. Moreover, China’s economic growth at 6.1%, in line with expectation. The news helped to bring more positive sentiment and DJIA futures currently up 67 points.

Under the current bullish environment, traders might want to stay holding long positions in equity.

Asian & European Stock market

The Asian stock market traded higher on China’s data. Japan’s stock market up 108.13 points (+0.45%) to 24,041.26, China stock market up 1.41 point (+0.05%) to 3,075.50, and Australia ASX 200 up 22.30 points (+0.32%) to 7,064.10. The European stock market also on the path higher. DAX Germany up 0.57%, UK FTSE up 0.98%, Euro STOXX600 up 0.91%

Technical Analysis

Dow Jones Industrial Average (INDU)

A fresh high printed again yesterday and DJIA continue further upside. There is nothing could stop the current bullish momentum of the index. Without any change in the sentiment then DJIA might be able to reach 30,000 psychological level soon.

Centurylink Inc (CTL)

CTL share prices are moving between two trendlines and previously it managed to surpass the daily SMA 200. The share prices bearish correction almost reached the daily SMA 200 before it turned upside when it tested the trendline. We think the share prices will continue its movement between two trendlines.