Market inch higher before a holiday
U.S stock market opened higher with Dow Jones Industrial Averages up 0.21%. Traders and investors seem closing out order before tomorrow fourth of July holiday. The upward movement is invited. However, trade wars issue persist and could resurface at any time.
We could regard the current upward movement as a corrective movement until the trade issue solved. Meanwhile, European market cheered on the last-minute deal by Germany on immigration.
Asian & European Stock market
Asian stock market mixed today. Nikkei closed down 26.39 points (-0.12%) to 21,785.54, Shang Hai Composite closed up 10.79 points (+0.39%) to 2,786.35 and Australia ASX 200 up 32.40 points (+0.52%) to 6,210.20. European stock advance on good German news. DAX Germany up 1.13%, FTSE UK up 0.91%, and Euro STOXX 600 up 0.95%.
Dow Jones Industrial Average (INDU)
DJIA manage to hold the level near daily SMA 200 and avoid breakout below the averages. Today, the index opened higher 0.21% and currently up 107.68 points (+0.44%). If the situation continues bullish, then we could expect DJIA bounce and head toward the red trendline.
Las Vegas Sands (LVS)
Yesterday, gambling stock slammed by a miss of revenue in Macau. LVS dropped below its daily SMA 200 but managed to recover part of the losses. The bearish pressure is strong. However, there is a possibility the share prices will stop moving down from current level. Traders could look for long position when there is a strong bullish reversal pattern.
Micron Technology (MU)
MU hit its daily SMA 100 and its bullish trendline. There is an initial bullish reaction and a bullish engulfing pattern formed on the daily chart. Traders could enter a long position when the bullish engulfing pattern confirmed.
PEP – The share prices are getting near its daily SMA 200, expect some reaction.