Easing fear of tapering help the market higher

Last week, the job data reported a major miss from expectation which might impact the Fed decision on tapering and rate-hike this month. The non-farm employment recorded a 235k increase in August, far from the 720k analyst’s expectation.

The global market has rallied today in anticipation that the interest-rate hike or tapering postponed. Under the current situation, traders will ride the bullish movement carefully while monitoring the next data releases.

Asian & European Stock market

The Asian stock market is marching higher. Japan Stock market up 531.78 points (+1.83%) to 29,659.89, China stock market up 40.12 points (+1.12%) to 3,621.86, and Australia ASX 200 up 5.60 points (+0.07%) to 7,528.50. The European stock market is also on the path higher. DAX Germany up 0.59%, UK FTSE up 0.61%, Euro STOXX 600 up 0.53%

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index mostly sideways last week without major movement after the job data release. It seems the release of job data has become a reality check for the Fed which might hinder tightening of interest-rate or tapering. DJIA index might continue trading sideways as the market continue waiting for a further clue.

Twitter Inc (TWTR)

TWTR share prices got rejected from the level around $72.50 and started a bearish correction. The share prices have not reached the daily SMA 200 but there is a bullish reaction. If the share prices could bounce from the current level then traders will observe possible upside to retest $72.50 or higher.