U.S stock market set to move lower
The stock market ready to retrace after four days bullish streak. Today, Huawei dropped on of its lawsuit against the U.S after the return of its seized equipment two years ago. It is the sign of easing tension before next month trade negotiation.
The market will focus on the Apple event where the company set to announce the launch of new products. Expect some movement in the technology sector today.
Asian & European Stock market
Asian stock market mixed today. Japan’s stock market up 73.68 (+0.35%) to 21,392.10, China stock market down 3.54 (-0.12%) to 3,021.20, and Australia ASX 200 down 33.90 points (-0.51%) to 6,614.10. European stock market slightly lower on Brexit development. DAX Germany up 0.24%, UK FTSE up 0.09%, Euro STOXX600 down 0.19%
Dow Jones Industrial Average (INDU)
The upward movement of DJIA formed a bearish candlestick close yesterday. But the index higher compared the previous Friday close. The index might consolidate near 27,000 handles while waiting for a reaction. If the index rejected from the resistance level then we could expect it to range between 26,000 – 27,000 until next month trade negotiation between U.S and China.
Harley Davidson Com (HOG)
HOG long-term trend is bearish inside a huge channel. At the current time, the share prices traded near the bearish trendline. It might pause and wait for either an upward continuation or rejection. We think HOG has more room upside to test the daily SMA 200 before deciding the next direction. As long as HOG stay below the daily SMA 200, the share prices will continue bearish.
Las Vegas Inc (LVS)
LVS traded higher and nearly reach the daily SMA 200. No bearish reaction at the current time and no clue in the next direction. LVS need to clear SMA 100 & 200 to continue its bullish correction. On the other hand, the bear will attempt to limit the upside at SMA 200 and restart the bearish trend.