U.S stock lower as tariff fear shrouding the market

The stock market mostly lower today as concern growing on U.S-China trade relation. In the latest news, U.S might limit or block critical software exports to China. The move planned after China plan to control rare earth exports. At the current time the market might turn lower, especially after reaching new high. However, traders will stay bullish for now, especially nearing the FOMC meeting. It could be a shake out before further upside in the stock market.

Dow Jones Industrial Average (INDU)

DJIA index turn lower again after the attempt to print higher swing high. The index fall below previous day’s low which could become an indication that the bear will dominate the market for now. Despite the situation, traders will wait for the closing level at the end of days to get more confirmation. If the index turn higher again and close near yesterday’s low, then there is chance of bullish continuation.

Hims & Hers Health, Inc (HIMS)

HIMS share prices follow the triangle pattern with the daily SMA 200 as support level. At the current time, the share prices fall toward the daily SMA 200 and might provide traders with chance to enter long positions. Traders could keep buying near the averages with stop level below previous swing low. On the upside, the level around $65.00 – $70.00 could become the target to watch.