Banking sector to lead the market up

Goldman Sach (NYSE: GS) up 1.6% after the company reported better than expected eps. The company reported eps of $6.28 vs. $5.38 expectation. At the same time, Morgan Stanley (NYSE: MS) also topped analysts estimate. MS reported earnings per share of $1.17 vs. $1.03 expectation. Share prices up 2.5% in pre-market trading.

Currently, the index future pointed upward almost 200 points and looks will add gains when earnings continue roll-in.

Asian & European Stock market

Asian stock market mixed. Nikkei up 277.94 points (+1.25%) to 22,549.24, China stock market down 21.76 points (-0.85%) to 2,546.33, and Australia ASX 200 down 32.80 points (+0.56%) to 5,869.90. European stock market move up. DAX Germany up 0.77%, UK FTSE up 0.04%, Euro STOXX600 up 1.03%.

Technical Analysis

Dow Jones Industrial Average (INDU)

It could be the time for DJIA to bounce from the daily SMA 200 as DJIA futures up almost 200 points. The bulls look will manage the level above the averages and started a short-term bullish leg. 25,800 – 26,000 is the upward target when bounce confirmed.

Habro Inc (HAS)

HAS following the sell-off in U.S market and reach daily SMA 100. The level around $97.50 was protected in the previous bearish attempt. Currently, HAS is testing the level and SMA 100 and we expect a bounce. If there is no bounce then HAS will move down to stronger support SMA 200 where traders could place long positions.

Square Inc (SQ)

SQ moved in strong bullish trend but recently it broke its daily SMA 50 & 100. It could be the sign of weakening bullish trend. The share prices could continue lower to SMA 200 before the bearish pressure recede. There is a bullish trendline present intersecting with daily SMA 200. Traders could use the chance to buy SQ on weakness when there is a bullish pattern formed near the supports.