U.S market futures negative Post Thanksgiving

U.S stock market futures tilted to the negative side as U.S traders return from Thanksgiving holiday. The negative stock market also experienced by the market in Asian mostly triggered by the drop in China stock market. There is no major news to watch today. Some FOMC president will give a speech today: FOMC Minneapolis Neel Kashkari, and FOMC Bank of New York William Dudley.

Bitcoin eruption

Bitcoin (BTC/USD) is one making the headline on Thanksgiving after the cryptocurrency sends out all of its foes to the sky. BTC crushed $8,300 handle and gained more than 14% in just three days. The move appears to be retail driven said Brian Kelly the CEO of BKCM.

In October, Jamie Dimon the JPMorgan Chase CEO warned anyone “Stupid” enough to buy bitcoin will “Pay the price for it.” It might be true as the cryptocurrency is not backed by a government. But under current market, it seems the scenario might not happen soon.

Asian Stock market

Asian stock market threaded lower on Monday. Nikkei up 54.86 points (-0.24%) to 22,495.99, Shang Hai Composite down 32.70 points (-0.98%) to 3,321.12 and Australia ASX 200 up 6.22 points (+0.10%) to 5,988.77.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA stick at high and looks will maintain its position near the top as there is no major shift of news. Monday session might turn the index lower, but overall the trend stays positive and might lead to another record high this week.

The Mosaic Co Com (MOS)

MOS currently hover below its daily SMA 200 and the horizontal resistance. The upward movement has enough momentum and might break above the resistance. Will MOS continue upward to a level around $26.00 and reverse lower to test daily SMA 200? Alternatively, will the share prices experience rejection from daily SMA 200 and resume its downward trend?

Tesla Inc (TSLA)

TSLA bounced from $290.00 and reached its daily SMA 200. Base on the textbook trade, the share prices will look for resistance around the broken level and resume its downward direction. Traders could look for short position near the SMA 200. Protect the position when the share prices reach a level near $290.00, and hold position when the price break below $290.00.