Bullish sentiment before the Fed interest-rate decision

The market turned positive at the beginning of this week as both U.S and China might reach a deal and settle the trade war between the two countries. DJIA futures up more than 70 points and set to trade further higher. Today, AT&T Inc (NYSE: T) set to report earnings before the market open.

At the closing bell, Alphabet (NASDAQ: GOOG) will report earnings.

Asian & European Stock market

The Asian stock market closed higher on trade talk optimism. Japan’s stock market up 67.46 points (+0.30%) to 22,867.27, China stock market up 25.12 points (+0.85%) to 2,980.05, and Australia ASX 200 up 1.50 points (+0.02%) to 6,740.70. The European stock market mostly lower. DAX Germany up 0.26%, UK FTSE down 0.33%, Euro STOXX600 down 0.13%

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index set to trade higher at the opening of this week. The index boosted by positivism in the U.S China trade talks. Aside from the news, the UK also received an extension for the Brexit deadline. Now the deadline is January 31. DJIA futures currently up 70 points and indicate higher opening. Will we see a test on the trendline today?

Eli Lilly and Company (LLY)

LLY formed a range between $105.00 – $116.00. The share prices bounced from the bottom of the range after the earnings report. If the bullish pressure continues then we could expect it target the daily SMA 200 or $116.00 resistance. Short positions near both resistances might be the scenario traders could take.