Flat opening and flat close expected today
The global stock market pulled lower today in anticipation of Brexit’s decision by the end of the week. Both the EU and UK governments manage to scrap new drafts of a deal this week. The deal will undergo discussion by the UK parliament by the end of the week. If the parliament decided to pass the draft then the UK will avoid hard-Brexit.
DJIA futures currently pointed upward 20 points. The good news on Brexit offset by bad news from China which reports the lowest growth in the third quarter since 27-years ago. The economy growth 6% compared to last year. The U.S stock market might close flat today in anticipation of Brexit’s development.
Asian & European Stock market
The Asian stock market mostly lower on China worse than expected data. Japan’s stock market up 40.82 points (+0.18%) to 22,492.68, China stock market down 39.19 points (-1.32%) to 2,938.14, and Australia ASX 200 down 35.00 points (-0.52%) to 6,649.70. The European stock market also lower before the weekend Brexit decision. DAX Germany down 0.02%, UK FTSE down 0.10%, Euro STOXX600 down 0.13%
Dow Jones Industrial Average (INDU)
The situation has not changed yet since the beginning of the week and traders could expect no change at the end of this week. DJIA will continue its ranging movement between two trendlines and 26,000 – 27,000 range for now.
Lazard LTD (LAZ)
LAZ share prices crossed above daily SMA 200 and currently challenging the top trendline. The share prices might consolidate between the averages and the top trendline until breakout happens. Traders could prepare for positions base on the breakout direction.
Twitter Inc (TWTR)
TWTR consolidating at the daily SMA 100. We could see a clear bullish channel on the chart and TWTR traded near the bottom of the channel. Will the share prices bounce from the channel and daily SMA 100?
If no bounce happens and breakout lower triggered then we could expect TWTR to continue lower and test daily SMA 200.