Stock futures point upward after Monday slump

The Asian stock market is trading mostly lower today following the U.S market lead. A major dip was seen in Japan’s Nikkei which down 622.77 points (-2.19%) to 27,822.12. Despite the major dip, the index recovered from 27,460.29 low. On the other side, the European stock market shrugs off the bearish pressure and trading upward.

Today, the stock market might open higher, fueled by Technology sectors that rebound after the previous day’s slump. Traders will continue to monitor the weekly sentiment, especially nearing the release of job data.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index made another bearish close yesterday but no lower low was printed on the chart. At the current time, the DJIA futures pointed upward 177 points which indicates upward pressure. The overall situation looks sideways for three days and the index range might continue to tighten for now.

Procter & Gamble Co (PG)

PG share prices trading upward and reached the $147.23 high before pulling back lower. The share prices closed below the daily SMA 100 and seem to continue moving lower to target the daily SMA 200. Traders could consider entering long positions near the daily SMA 200 or the bottom trendline when there is a bullish reaction.