DJIA index opened lower before the Fed guidance

The DJIA index lower 60 points at the current time as the market stays cautious before the Fed interest-rate decision and guidance tomorrow.  We might see the market continue trading cautiously as treasury yield continues to climb. If the Fed could not address the yield increase immediately then we might see the start of a bearish pullback in the stock market.

It is better to stay sideline for now while waiting for tomorrow’s guidance.

Asian & European Stock market

The Asian stock market mostly higher today. Japan stock market up 154.12 points (+0.52%) to 29,921.09, China stock up 26.79 points (+0.78%) to 3,446.73 and Australia ASX 200 up 54.10 points (+0.80%) to 6,827.10 . The European stock market also on the path higher. DAX Germany up 0.83%, UK FTSE up 0.60%, and Euro Stoxx600 up 0.80%.

Technical Analysis

Dow Jones Industrial Average (INDU)

No downturn yet in DJIA index as the index continues printing new record high. At the current time, the index is trading lower 60 points before the Fed guidance tomorrow. The index might continue under pressure if the Fed sounded uncertain on the current rising treasury yield.

A bearish correction toward the 29,000 and 30,000 might happen anytime.

Logitech International (LOGI)

LOGI share prices corrected lower and reached the daily SMA 100 also the trendline. There was a bounce from the trendline and currently the share prices trading above daily SMA 100. We might see another downturn in the share prices and traders could use it for the chance to enter long positions.