ECB, jobless claim and U.S-China trade deal under focus

Among all the news on the headline, the market mostly focused on the ECB announcement. The central bank expected to slash its growth forecast and push back the plan for rate-increase. On the other hand, the central bank might choose a loose monetary policy to shore up liquidity in slowing eurozone country.

U.S-China trade deal might already be priced in by the market and the reaction reflected on current index movement. On the economic ground, U.S jobless claim and China trade balance data will become the focus of the market today.

Asian & European Stock market

Asian stock market edge lower. Japan stock market down 140.80 points (-0.65%) to 21,456.01, China Shanghai Composite up 4.32 points (+0.14%) to 3,106.42, and Australia ASX 200 up 18.30 points (+0.29%) to 6,263.90. European stock under pressure. DAX Germany down 0.42%, UK FTSE up 0.39%, Euro STOXX600 down 0.39%.

Technical Analysis

Dow Jones Industrial Average (INDU)

The bearish pressure on the DJIA index gets stronger and manage to close below 25,800 yesterday. Today, the market mostly under pressure as expectation sees ECB lowering growth forecast. On the DJIA chart, if the weakness continues then we could expect the index corrected lower toward daily SMA 200.

Hyatt Hotels Corp (H)

H might be moving upside, however, the share prices have not crossed the flip level shown on the daily chart. We might have a double top pattern formed if the share prices turn lower at the current level. A bearish close below daily SMA 200 has the potential to incite new bearish leg.

T-Mobile US (TMUS)

TMUS is on a bullish trend and the share prices corrected from the top $74.06. There are two supports which form a confluence around $70.00 and there is bounce happened yesterday. The bullish sign is not strong and we expect another test on the confluence level. If the bull could maintain the level above the confluence by the end of the week then TMUS has potential to bounce and challenge $74.06.