DJIA futures up more than 100 points

The coronavirus cases continue to increase massively across the U.S but there is hope that effective vaccine could be found before the end of the year. DJIA futures currently up 116 points which suggest a higher opening level today for the DJIA index.

Trades and investors will monitor the development from the European region. Leaders in the EU are holding a meeting to discuss coronavirus stimulus. Major actions in the stock market might happen after the results released.

Asian & European Stock market

The Asian stock relatively higher today. Japan stock market down 73.94 points (-0.32%) to 22,696.42, China stock market up 4.03 points (+0.13%) to 3,214.13 and Australia ASX 200 up 22.70 points (+0.38%) to 6,033.60. The European stock market fluctuating as EU leaders meet to discuss the coronavirus stimulus. DAX Germany up 0.30%, FTSE UK up 0.50%, Euro STOXX 600 up 0.01%

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index gapped up and closed near 27,000 handles two days ago. Yesterday, there is a bearish reaction but not significant. The index might keep challenging the 27,000 handles today. At the current time, the index expected to trade between 26,000 – 27,000 handle and above the daily SMA 200.

If the index could extend the bullish close above 27,000 then it might target the previous month high.

Edwards Lifesciences Corp (EW)

EW share prices moved upward from the level around $67.00 and reached the daily SMA 200. The share prices might continue to stick near the daily SMA 50 & 200. If the share prices could continue moving upward then traders could prepare to enter short positions near the trendline.