Stock market higher on the trade deal hope
The global stock market mostly higher today after White House economic advisor Larry Kudlow said both U.S and China getting near to reach a deal. It is a good sign for the market especially after the Fed Jerome Powell testimony this week. In the speech, he mentions that the Fed does not see a bubble despite the higher corporate and government debt.
We might see the DJIA index printed further fresh all-time high today and it is better to stay sideline or holding long positions at the moment.
Asian & European Stock market
The Asian stock market traded higher today. Japan’s stock market up 161.77 points (+0.70%) to 23,303.32, China stock market down 18.53 points (-0.64%) to 2,891.34, and Australia ASX 200 up 58.60 points (+0.87%) to 6,793.70. The European stock market traded mixed. DAX Germany up 0.19%, UK FTSE down 0.28%, Euro STOXX600 up 0.32%
Dow Jones Industrial Average (INDU)
DJIA index seems will continue higher today as the index futures pointed upward more than 90 points. Similar to the previous day analysis, no reason to look for short positions in the stock market yet. At the current time, traders will continue to ride the stock market higher.
Harley Davidson (HOG)
HOG share prices gapped up after the recent earnings report. The share prices return above the daily SMA 200 and might start a new bullish trend. At the current time, HOG corrected lower and getting near the horizontal support level on the chart. There is daily SMA 50 to watch too. Traders could prepare between the SMA 200 and the horizontal lines to enter long positions.