FLASH: World stock markets were subdued as the US and UK exchanges were shuttered for national holidays.
DJIA futures rose Monday night, along with S&P 500 futures and NAS futures. President Trump said Monday that Beijing “would like to make a deal,” but “we’re not ready” for a China trade deal. The current stock market correction deepened last week on fears that the China trade dispute will last a long time.
DJIA futures rose 0.4% Vs fair value heading into a Holiday-shortened trading week. S&P 500 futures climbed 0.4%. NAS 100 futures advanced 0.5%.
Asian and European markets generally rose Monday, Asian markets were mostly higher Tuesday morning.
Remember that overnight action in Dow futures and elsewhere does not necessarily translate into actual trading in the next regular stock market session.
The current stock market correction deepened last week, especially for tech stocks, on China trade dispute concerns.
The NAS Comp declined 2.3%, dropping below its prior 13 May low. A NAS rally attempt ended Thursday. Friday was day 1 of a new stock market rally attempt for the tech-heavy index.
Let’s see if it continues this week.
The DJIA fell 0.7% last week and the S&P 500 index 1.2%. Both stayed above recent lows. The DJIA and S&P 500 index are 9 days into their stock market rally attempts.
That is about enough, don’t you think?
Remember, it is your money so, your responsibility. So, pay attention.
The Bulls Vs The Bears
VIX: 16.31; +0.35
VXN: 21.64; +2.25
VXO: 17.70; +0.67
Put/Call Ratio (PCR) CBOE: 0.85; -0.24. Even with the selling, put activity fell below 1.0 after 8 of 9 sessions over 1.0.
The Bulls are at: 51.4 Vs 55.5 last
The Bears are : 17.5 Vs 17.8 last
Support and Resistance
HeffX-LTN’s overall technical outlook for Wall Street’s major US stock market from the support and resistance perspective is Neutral in here.
Have a terrific week