Dow rises in anticipation of a key meeting between Trump and Xi

Dow Jones Industrial Averages futures up 80 points on the last trading day of June. The index might maintain mild bullish pressure after opening and might not move much as the market waiting for the key meeting between Trump and Xi.

The result of the meeting should set the tone for next month trading. Traders might want to stay flat for now until the actual result announced.

Asian & European Stock market

Asian stock market mostly lower while G20 meeting on progress. Japan’s Nikkei down 62.25 points (-0.29%) to 21,275.92, China stock market down 17.91 (-0.60%) to 2,978.88, and Australia ASX 200 down 47.50 points (-0.71%) to 6,618.80. European stock market cautiously higher. DAX Germany up 0.49%, UK FTSE up 0.26%, Euro STOXX600 up 0.25%.

Technical Analysis

Dow Jones Industrial Average (INDU)

Today trading session might not give many clues on the next direction as market participants are focusing on G-20 meeting. Tomorrow, there will be a meeting between President Trump and Xi Jinping. Dead or no deal, the market might move sharply on Monday trading session. At the current time, DJIA futures up 80 points suggesting higher opening.

Jetblue Airways Corporation (JBLU)

JBLU corrected lower and reach the daily SMA 50. The share prices show an initial bullish reaction from the averages and might develop into a bounce. However, it is possible for the share prices to continue lower and test the bottom trendline and SMA 200. Traders could look for a long position at SMA 50 and SMA 200 when there is a bullish reaction.

Under Armour (UA)

UA share prices corrected lower since the previous rally. It is testing the trendline at the current time. Will a bounce happen? We think the share prices have more room further upside and a bounce will happen either at the trendline or averages below the trendline.