Negative opening was seen for U.S stock market
The stock market brace for weak opening as DJIA futures down 50 points before the market open. In the previous day, President Trump signed a bill that supports Hong Kong protesters. The action strongly condemned by China which claimed the U.S has “Sinister intentions”.
Investors and traders monitor closely the development of trade negotiations after the current event which could derail the negotiation.
Asian & European Stock market
The Asian stock market mostly lower today. Japan’s stock market down 115.23 points (-0.49%) to 23,293.91, China stock market down 17.71 points (-0.61%) to 2,871.98, and Australia ASX 200 down 18.00 points (-0.26%) to 6,846.00. The European stock market also slightly lower. DAX Germany down 0.03%, UK FTSE down 0.31%, Euro STOXX600 down 0.09%
Dow Jones Industrial Average (INDU)
The overall trend continues bullish and DJIA printed further higher highs on the chart. The index expected to continue to print fresh all-time high and traders better avoid short positions in equity for now. Only enter short positions when the index starts moving sharply lower after a major bearish pattern.
Conoco Phillips (COP)
COP stick near SMA 200 and the top trendline. The share prices looking to reverse its major trend from bearish to bullish. If COP starts moving lower then traders could look for long positions near the bottom trendline. A close above the trendline resistance is the signal to jump in long-term long positions.
Intuit Inc (INTU)
INTU shares prices holding out at the daily SMA 200 and attempting to bounce from it. We have a range span between $250.00 – $272.50 and INTU might continue trade inside it. Traders could look for long positions with a stop below $250.00 and hoping for a breakout above $272.50 for the continuation of the long-term bullish trend.