DJIA 23,000 sighted just 40 points more

U.S stock market ready to make another landmark touch this week. DJIA index continues moving higher in the previous day and slowly closing the gap to 23,000. There is nothing to reverse the bullish move of the index as early earnings season results topped expectation.

Asian stock market mildly higher on Tuesday following the advance of U.S stock market. Nikkei up 80.56 points (+0.38%) to 21,336.12, Shang Hai Composite down 5.03 points (-0.13%) to 3,373.44, and Australia ASX 200 up 42.85 points (+0.73%) to 5,889.61. European stock market mixed as DAX Germany up 0.07%, FTSE UK up 0.22% and Euro STOXX 600 down 0.04%.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA is 40 points below 23,000 which could be reached today or in coming days. The upward movement is gradual, and no major sell-off happen yet since the beginning of October. Will the bear come into the market after the index reach 23,000? Traders could continue observing the index movement and monitor earnings result from companies.

The Mosaic Co (MOS)

MOS is moving up and sticks near its daily SMA 100 now. The share prices could continue upward as there is no lower low printed on the chart. Instead, traders could see consecutive highs around $21.90. We expect breakout upside and a move toward daily SMA 200.

Simon Property Group (SPG)

SPG share prices are in a downtrend since the break below daily SMA 200. Currently, the share prices move up and testing the daily SMA 200. Will it break upside and start a new bullish trend?

Tesla Inc (TSLA)

TSLA is a bullish candidate with the share prices holding near its daily SMA 50 & 100. There is trendline support below both averages which could become the best place to look for a long position. Traders could expect another bullish leg to test TSLA record high.