U.S stock market slightly higher, resuming Tuesday gain

The stock market staged a comeback at the Monday trading session after a major setback last week. The current sentiment mostly mixed as traders and investors planning what to do toward the Fed decisions. We might see the market trading rangebound with slight weakness until the next inflation number comes out.

If tapering eventually happens then we will see a further pullback in the stock market.

Asian & European Stock market

The Asian stock market mixed. Japan Stock market down 9.24 points (-0.03%) to 28,874.89, China stock market up 8.81 points (+0.25%) to 3,566.22 and Australia ASX 200 down 43.70 points (-0.60%) to 7,298.50. The European stock market also trading mixed. DAX Germany down 0.37%, UK FTSE up 0.44%, and Euro STOXX600 down 0.14%

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index bounced before it could reach the daily SMA 100. The bounce happens after a lower low printed on the chart. If the index could not print a higher high then it is set to continue the bearish movement. At the current time, traders will observe the daily SMA 50. If there is a major bearish reversal from the averages then a lower high will be printed and another lower low below SMA 100 is a bearish confirmation.

Mattel Inc (MAT)

MAT share prices pushed lower below $20.00 handle and now return near it. If the share prices get rejected from the level then traders will expect further weakness toward the daily SMA 200. Traders could consider long positions near the averages when the bearish pressure recedes and there is a major bullish reaction.