Trump-Xi meeting inspired rally in global market

The meeting between two leaders at the end of previous week spurred positivism as both parties agreed will not impose additional tariff while trade talk under progress. It is not a confirmation that the trade war will end yet, but at least the market rejoiced on the current event.

This week, traders and investors will focus on U.S job data at the end of the week. Also, OPEC will kick-off meeting which should determine what will happen to oil prices.

Asian & European Stock market

Asian stock market bolstered by U.S-China cease-fire. Japan’s Nikkei up 454.05 points (+2.13%) to 21,729.97, China stock market up 66.02 (+2.22%) to 3,044.90, and Australia ASX 200 up 29.30 points (+0.44%) to 6,648.10. European stock market also advances today. DAX Germany up 1.24%, UK FTSE up 1.23%, Euro STOXX600 up 0.88%.

Technical Analysis

Dow Jones Industrial Average (INDU)

At the start of this week, DJIA futures pointed upward more than 200 points which indicate a bullish opening for DJIA. No reason to turn bearish on the index as the trade war situation between the U.S and China improving. We might see new all-time high printed today or this week.

TJX COS INC (TJX)

TJX traded inside a triangle pattern on its daily chart. The share prices expected to continue moving inside the triangle consolidation for now. Traders could apply ranging strategies while waiting for a breakout. We prefer bullish breakout to bearish breakout.

Twitter Inc (TWTR)

TWTR share prices trapped inside a descending triangle pattern. If the share prices break lower then TWTR will test the daily SMA 200 before further confirmation. A long position at the current level with a tight stop below SMA 200 might be a good option, traders could take.