U.S stock futures mixed as traders waiting for Georgia run-off result

The stock market mostly flat as traders waiting for run-off results. It seems the situation favors democrat’s candidates which might secure the senate later. Wallstreet seems fearful if Democrats seize control of the senate, as it will lead to higher corporate taxes and tougher policies.

DJIA futures currently higher 116 points before the market open. Meanwhile, tighter measures introduced globally to battle coronavirus spread. We might see a pullback in the stock market if the situation getting worse.

Asian & European Stock market

The Asian stock market mixed today. Japan stock market down 102.69 points (-0.37%) to 27,055.94, China stock market up 22.20 points (+0.63%) to 3,550.88 and Australia ASX 200 down 74.80 points (-1.12%) to 6,607.10. The European stock market significantly higher. DAX Germany up 0.98%, UK FTSE up 1.91%, and Euro Stoxx600 up 0.90%.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA stays above 30,000 handles and will continue hovering near it for now. The market is waiting for the run-off result in Georgia. If Democrats seize the Senate control then we might see a major bearish pullback. At the current time, it is better to observe the index reaction near 30,000.

United Airlines Holding (UAL)

UAL share prices have surpassed the daily SMA 200 and reached the $50.00 resistance level. The share prices currently trading near the daily SMA 50 and might bounce from it. If the bearish correction continues then traders could use the SMA 100 & 200 to enter long positions. In the long-term, if $50.00 is broken then traders will prepare for a long-term bullish trend.