Flat market before Apple’s event

The stock market futures traded unchanged before the market open. Indicating the uncertainties will continue to cloud the market and traders, investors taking a safer way by staying sideline. Trader wars issue still a big concern, particularly the issue between U.S and China.

Switching to the company report, Apple (NASDAQ: AAPL) shares might be under the spotlight as the company holds an event to disclose its latest iPhone details.

Asian & European Stock market

Asian stock market settled lower today. Nikkei down 60.08 points (-0.27%) to 22,604.61, Shang Hai Composite down 8.69 points (-0.33%) to 2,656.11 and Australia ASX 200 down 3.80 points (-0.06%) to 6,175.90. European stock market on the other hand advanced. DAX Germany up 0.19%, UK FTSE up 0.19%, Euro STOXX600 up 0.26%.

Technical Analysis

Dow Jones Industrial Average (INDU)

Support tested in the previous trading day and DJIA bounced from it. It could mean the index will continue upside toward the top of the channel. However, the bull needs to break above previous week high to confirm the start of the new bullish leg.

Analog Devices Inc (ADI)

ADI shares prices formed a triangle pattern and currently hovering at the bottom of the triangle. Aside from the triangle, the share prices also hit the daily SMA 200. If the bull could reverse the direction then we will see ADI start moving up toward the top of the triangle.

Valero Energy (VLO)

VLO is moving inside the bullish channel shown on its daily chart. The share prices also touch the daily SMA 50 & 100 recently. Will the bull manages to bring the share prices up and respect the bullish channel?