The stock market set to close the week flat

U.S stock market futures traded near 0 points and indicate flat opening. The stock market might continue its flat direction until next week’s FOMC interest-rate decision. At the current time, the EU also delays its decision on Brexit as PM Boris Johnson pushes for election.

Not much to expect at the moment, traders will trade cautiously until next week FOMC for now.

Asian & European Stock market

The Asian stock market traded mixed. Japan’s stock market up 49.21 points (+0.22%) to 22,799.81, China stock market up 14.01 points (+0.48%) to 2,954.93, and Australia ASX 200 up 45.60 points (+0.68%) to 6,739.20. The European stock market lower after Brexit development. DAX Germany down 0.15%, UK FTSE down 0.55%, Euro STOXX600 down 0.31%

Technical Analysis

Dow Jones Industrial Average (INDU)

It has been a slow week where the index stuck near its opening level and trade near 27,000 resistance. Traders and investors seem to proceed with caution ahead of the Fed interest-rate decision. We expect the index to continue trade between 26,000 – 27,000 and between two trendlines.

Avis Budget Group Inc (CAR)

CAR is interesting to watch as the share prices traded near the daily SMA 200. We have a trendline to watch where the share prices expected to get rejection. If the share prices move lower then it will target the lower trendline. On the other hand, if the share prices could break the averages and trendline then CAR set to start a new bullish leg above SMA 200.

Snap Inc (SNAP)

SNAP share prices corrected lower and currently traded near the daily SMA 200. Yesterday the share prices formed a bullish pin bar pattern. If the pattern confirmed then we could expect further upside in the share prices. At the current time, traders will observe the share price reaction at the daily SMA 200.