|Day's Range||29,283.18 - 29,463.04|
|52 Week Range||24,680.57 - 29,568.57|
Based on Friday’s price action and the current price at 29309, the direction of the March E-mini Dow Jones Industrial Average into the close will be determined by trader reaction to the steep uptrending Gann angle at 29385.
Investing.com – Wall Street was in the red in afternoon trading Friday, with the Dow the worst hit following more negative news on Boeing’s 737 Max jet problems.
The U.S. markets are going to be supported as long as Asian and European money keeps coming in to chase the higher-yield. But if they start to come down later today and finish lower, then this will tell us that the U.S. professionals have had enough and the market could start to come down.
An overnight spike of nearly 15,000 in China’s reported coronavirus cases upended world markets on Thursday.
Based on the early price action, the direction of the March E-mini Dow Jones Industrial Average on Thursday is likely to be determined by trader reaction to Wednesday’s close at 29523.
“The real question for the Fed is:? What is the likely effect on the U.S. economy? And I think we’ll begin to see that in economic data coming up fairly soon.
Bank of America upgraded the casino stocks to buy from neutral. The firm said the casino companies, which have been hit from heightened fear about the Chinese coronavirus, will rebound as the number of virus cases meaningfully decline.
Investing.com – Wall Street notched on Wednesday a third-straight record close this week, as easing worries over the impact of the coronavirus prompted a wave of buying across stocks with energy leading the charge.
Based on the early price action and the current price at 29357, the direction of the March E-mini Dow Jones Industrial Average the rest of the session on Wednesday is likely to be determined by trader reaction to the downtrending Gann angle at 29347.