US Stock market Technical Analysis September 4, 2019

DJIA futures up more than 200 points

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Today Dow Jones Industrial Futures pointed up more than 200 points after China Caixin services PMI grow more than expected. The fear of slowdown to global economy continue to persist but the data could weather current pessimism in the market.

UK Boris Johnson defeated in parliament and must comply with the decision to ban “No-deal” Brexit. The prime minister might push snap election after this event.

Asian & European Stock market

Asian stock market is slightly higher today. Japan’s stock market up 23.98 (+0.02%) to 20,649.14, China stock market up 27.26 (+0.93%) to 2,957.41, and Australia ASX 200 down 20.40 points (-0.31%) to 6,553.00. European stock market mostly higher after MP ready to block “No-deal” Brexit. DAX Germany up 1.20%, UK FTSE up 0.54%, Euro STOXX600 up 0.91%

Technical Analysis

Dow Jones Industrial Average (INDU)

US Stock market Technical Analysis September 4, 2019

DJIA tested 26,000 handles yesterday. No major bounce from the level yet, but the index might bounce upward today as the futures pointed upward more than 200 points. If a major bullish bounce happened then DJIA might trade between 26,000 – 27,000.

HUYA Inc (HUYA)

US Stock market Technical Analysis September 4, 2019

HUYA share prices are at a crossroad. Recently it broke above the trendline and extended its bullish movement. However, the share prices made correction yesterday and closed near the trendline. If the bull could push the price higher and bounce from the trendline then we might see bullish continuation.

On the other hand, if the bear pushes the price below the trendline then HUYA might trade inside the triangle while waiting for a breakout.

Zynga Inc (ZNGA)

US Stock market Technical Analysis September 4, 2019

ZNGA slowly move lower since the $6.65 high. It consolidates between $5.50 – $5.85 at the current time while waiting for the next direction. Traders could use the moment to accumulate positions near $5.50. If the share prices continue lower then daily SMA 200 will become another level to watch for long positions.

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