Reddish Struggling Tuesday
U.S stock market is hovering on the negative side as the market continues its wait on the tax-reform decision. The stock market has been in pessimistic mode since there is possibility tax-reform canceled. Aside from the tax-reform news, central bankers heads are the focus of today session. The Fed Janet Yellen, BOJ Haruhiko Kuroda, ECB Mario Draghi and BOE Mark Carney will take part in the market discussion started at 5 AM Eastern.
There are talks about the interest-rate and new way to deal with the current market situation. It will be interesting to hear what central bankers head said in the discussion.
Asian stock market down on Tuesday. Nikkei flat -0.98 points (0.00%) to 22,380.01, Shang Hai Composite down 17.87 points (-0.52%) to 3,429.97 and Australia ASX 200 down 53.03 points (-0.88%) to 5,968.75. European stock market also weak. DAX Germany down 0.29%, FTSE UK up 0.09%, and Euro STOXX 600 down 0.57%.
Dow Jones Industrial Average (INDU)
Dow Jones Industrial Averages turn up on Monday trading session and accompanied by strong volume spike. There is bullish interest, and the index might continue higher this week. Traders could position themselves for a rally and enter shares which have weakened.
Baidu Inc (BIDU)
BIDU will become focus this week as the share prices test its demand zone for the second time. The test result in a bullish candlestick and might continue upward. Traders could use this moment to enter a long position with a stop below $213.
Disney Inc (DIS)
DIS upward movement hit the top of its bearish channel where there is daily SMA 200 present. There is no reversal seen yet, but traders could start looking for a short position near the resistance and ride the bearish continuation move with a tight stop above daily SMA 200.
IP, EBAY – The share prices hit daily SMA 200, and there is a possibility of bounce from the averages.
PG – Getting near to the daily SMA 200 from below. Might resume its bearish trend if the share prices failed to close above the averages.
JPM – Observe for bounce continuation from the daily SMA 50.