Technical bounce after the worst drop since October

The stock market in the U.S set for a bounce today as DJIA futures up more than 100 points. There are many other economic news which will happen soon. Brexit is due on Friday, the market may produce big reaction toward the event. Before Brexit, BOE will announce interest-rate.

Today’s market focus will be the earnings result, Apple Inc (NASDAQ: AAPL), Advanced Micro Devices (NASDAQ: AMD), EBAY Inc (NASDAQ: EBAY), Starbucks (NASDAQ: SBUX) are set to report earnings after the market close.

Asian & European Stock market

The Asian stock continue its retreat. Japan’s stock market down 127.80 points (-0.55%) to 23,215.71, China stock market down 84.23 points (-2.75%) to 2,976.53 and Australia ASX 200 down 96.00 points (-1.35%) to 6,994.50. The European stock market inch higher today. DAX Germany up 0.36%, UK FTSE up 0.47%, Euro STOXX600 up 0.38%

Technical Analysis

Dow Jones Industrial Average (INDU)

A technical bounce might happen today in DJIA as the futures pointed up. The bounce might be short-lived and turn into further bearish pressure below the daily SMA 50. Traders might want to trade carefully under the current situation and take more time observing the market before jump in positions.

Baidu Inc (BIDU)

BIDU crossed above the daily SMA 200 and hit the trendline before it starts a correction. Thee correction has reached a level near the daily SMA 200 yesterday and there is a bullish reaction. If the share prices could maintain the position above the SMA 200 then traders could enter long positions.