U.S futures slid lower before Jerome Powell speech
The Fed Jerome Powell speech is the most awaited event that the market seek after previous week strong job data. Will the Fed turn hawkish compared to the previous meeting? The market will observe today speech to gauge whether the Fed will cut-rate or not in the next FOMC meeting.
Meanwhile, the market will continue moving lower to normalize previous bullish rally incited by dovish Fed.
Asian & European Stock market
Asian stock market continue moving lower. Japan’s Nikkei up 30.80 points (+0.14%) to 21,565.15, China stock market down 5.13 (-0.18%) to 2,928.23, and Australia ASX 200 down 6.50 points (-0.10%) to 6,665.70. European stock market also moving lower. DAX Germany down 1.05%, UK FTSE down 0.11%, Euro STOXX600 down 0.69%.
Dow Jones Industrial Average (INDU)
Slight rejection is seen on the DJIA daily chart, the index mildly lower after the fresh high. Today, the index might open lower and continue moving down as the futures under pressure. If DJIA moves down then traders could observe the top of the channel as the level to enter long positions.
Netease Inc (NTES)
NTES share prices supported by the daily SMA 100 and traded inside a triangle pattern. The share prices are getting near the end of a triangle consolidation. Will it break higher or lower toward the daily SMA 200? The overall trend of NTES is bullish which favor bullish breakout.
VICI PPTYS (VICI)
VICI share prices worth to watch as it consolidates inside a triangle pattern. The share prices have bounced from daily SMA 200 two times previously. At the current time, if the bearish pressure manages to push VICI down to its SMA 200 then traders could prepare for long positions.