A pause after record run

Dow Jones Industrial Averages opened few points higher and slipped lower following Nasdaq and SPX which started the day at negative. ADP non-farm employment data come out at 135k vs. 131k expectation. The market is currently waiting for ISM Non-manufacturing PMI, consensus reading of 55.5. EIA scheduled to release crude oil inventory data which expected to decrease 0.5 million barrels.

Aside from the data, there are two speeches to watch. First is from ECB Mario Draghi, and secondly is from The Fed Janet Yellen.

Meanwhile, Asian stock market mixed as Nikkei advance 12.59 points (+0.06%) to 20,626.66 and Australia ASX 200 down 49.38 points (-0.87%) to 5,652.06. European stock market lower following the Catalonia crises. UK FTSE down 0.02%, Euro STOXX 600 down 0.18%. However, DAX Germany is on the positive side with 0.30% gain.

Technical Analysis

Dow Jones Industrial Average (INDU)

Similar analysis as the previous day, the DJIA bull is still in control, and 23,000 is not far away from current level. Although the bear might come into the market today, it looks like the downward movement will happen for a short time.

Aflac Inc (AFL)

AFL is in an uptrend and all downward movement intercepted by the bull near the blue uptrend line and daily SMA 50. Currently, the price showing possible bounce from the support level. If the prices continue upward, it will target the red trendline.