The bull to kick-off second half of the year

U.S stock market futures, the Dow Jones Industrial Averages gained 64 points before market open and indicated moderately higher open today. The stock market might stall after the open though as it prepares for Independence Day. Traders might avoid placing major position today as the trading day is shortened.

Nevertheless, it is a bullish day, and the sentiment also started from Asian session today.

Other market

Asian stock market up today with only Australian ASX 200 as the loser with 0.65% drop. Nikkei gains 0.11%, Shang Hai Composite gain 0.07%. Crude oil movement has been muted since enormous nearly 10% rally from the June’17 Low. European stock market overwhelmingly positive before U.S stock market open and might continue higher. Gold and silver on retreat today as U.S dollar index initiated bounce from the first-half ’17 low.

Gold and silver on retreat today as U.S dollar index initiated bounce from the first-half ’17 low. The bounce of U.S dollar might continue before the release of FOMC minutes of meeting on Wednesday.

Technical Analysis

Dow Jones Industrial Averages (INDU)

DJIA on track higher today, the index moving in a bullish manner and looks will erase all of its losses incurred on previous Thursday. This week there are FOMC meeting minutes, job data releases which could propel the index further upside.

LyondellBasell Industries (LYB)

LYB broke below its daily SMA 200 and found the bottom around $78.00. The share price has been up since the bounce from the bottom and moving near the daily SMA 200. Will it bounce from the averages and resume the bearish trend? Alternatively, will it break higher above the averages?

WYNN Resorts (WYNN)

WYNN is moving inside the bullish channel, and currently, the price is near the bottom of the channel. Without any change to the trend, WYNN expected to bounce from the bottom of the channel and continue upward.