U.S stock market to start the week on the bearish side
DJIA futures currently lower nearly 100 points which indicates a weak opening. Traders and investors will focus on reports from the major bank this week. If the earnings result shows better than expected then we will see a continuation of optimism of economic recovery.
There are inflation data to watch this week and testimony by The Fed Jerome Powell. Traders might want to prepare for high volatility nearing the events.
Asian & European Stock market
The Asian stock market mostly higher. Japan Stock market up 628.60 points (+2.25%) to 28,569.02, China stock market up 23.75 points (+0.67%) to 3,547.84 and Australia ASX 200 up 60.20 points (+0.83%) to 7,333.50. The European stock market trade with mixed sentiment. DAX Germany up 0.10%, UK FTSE down 0.38%, Euro STOXX 600 up 0.24%
Dow Jones Industrial Average (INDU)
DJIA index bounced from the daily SMA 50 and closed higher last week. The index is set to continue its bullish trend and target a new record high. No change yet to the bullish outlook as long as the index continues printing higher high and higher low.
Intel Corp Com (INTC)
INTC share prices have reached the daily SMA 200 in the previous downturn. There was a bullish reaction from the averages and the share prices stage a bounce. It seems the upward pressure losing momentum near the daily SMA 50. At the current time, the share prices are trading between the daily SMA 50 & 200. Traders will expect a breakout to happen soon.
If the share prices start moving upward then it might target the previous bearish earnings gap.