U.S stock market set to move lower after Alphabeth miss

Alphabet (NASDAQ: GOOG) reported worse than expected earnings results. EPS comes out at $10.12 vs. $12.42 expectation. Revenue come out at $40.5 billion vs. $40.2 billion. Currently the share prices down 0.7% before the opening bell.

This week, the market will focus on the Fed interest-rate decision. Expect less volatility nearing the announcement.

Asian & European Stock market

The Asian stock market mixed. Japan’s stock market up 106.86 points (+0.47%) to 22,974.13, China stock market down 25.87 points (-0.87%) to 2,954.18, and Australia ASX 200 up 4.70 points (+0.07%) to 6,745.40. The European stock market mostly lower. DAX Germany down 0.12%, UK FTSE down 0.55%, Euro STOXX600 down 0.41%

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA continue higher in the previous trading day, it soon will print new fresh high. However, the index still trades between two trendlines and might get rejected from the top resistance. Will the index breakout above the trendline? Alternatively, will it start moving lower and trade between 26,000 – 27,000 again?

Automatic Data Processing (ADP)

ADP pushed lower and supported by the daily SMA 200. The share prices currently traded between the SMA 100 and 200. Breakout soon will happen and traders will trade base on the breakout direction. Meanwhile, it is better to apply ranging strategies.