US Stock market Technical Analysis May 7, 2019

Trade tension bring pressure to the market

Free $100 Forex No-Deposit Bonus

Wallstreet once again will brace for a bear attack similar to the previous day. In the previous day, all of the major indices opened lower but recovered most of its losses before the end of the trading day. Today, DJIA futures pointed lower 130 points, indicated a triple-digit lower open.

The trade deal tension will continue to influence the market. Tomorrow, the delegation from China will gather in Washington to resume the trade talk. China’s Vice-minister Liu He expected to join the delegation.

Asian & European Stock market

Asian stock market mostly higher. Japan stock market opened after golden week holiday, Nikkei down 335.01 points (-1.51%) to 21,923.72, China stock market up 19.93 (+0.69%) to 2,926.39, and Australia ASX 200 up 12.00 points (+0.19%) to 6,295.70. European stock market traded lower. DAX Germany down 0.48%, UK FTSE down 0.94%, Euro STOXX600 down 0.42%.

Technical Analysis

Dow Jones Industrial Average (INDU)

US Stock market Technical Analysis May 7, 2019

DJIA gapped down in the previous trading day as fear mounting in the market regarding break off on U.S-China trade talks. It was a severe drop, but the bull manages to erase most of the losses and closed the day only down 66.47 points. Today, the index future pointed downward 124 points, indicating lower open.

Will the index reverse the situation again like yesterday?

Lowe’s Companies (LOW)

US Stock market Technical Analysis May 7, 2019

LOW formed a simple bullish technical pattern on its daily chart where traders could look for long positions. There are a flip level present and the share prices also not far from daily SMA 50. Traders could assume the level will hold out and long positions possible between SMA 50 and flip level.

Advanced Micro Device (AMD)

US Stock market Technical Analysis May 7, 2019

AMD has not left its bullish channel yet and the share prices almost hit its daily SMA 50. Traders could observe the share prices reaction near the bottom of the channel and SMA 50 for a chance to enter long positions.

Copyright © 2019. All Rights Reserved. FXDailyReport.Com
Risk Warning: Trading CFDs is a high risk activity and you may lose more than your initial deposit. You should never invest money that you cannot afford to lose. FXDailyReport.com will not accept any liability for loss or damage as a result of reliance on the information contained within this website including data, quotes, charts and buy/sell signals. Please be fully informed regarding the risks and costs associated with trading the financial markets.