Stock Market Enjoys Recovery
After the period of serious volatility, sentiment at the stock market have finally improved. DOW increased 1.03% to 24893.49. The index is expected to hit the key near term resistance area between 55 day EMA and 61.8% retracement of 26616 to 23360 at 25372. If it does, the correction from 26616.71 will be finished. S&P 500 rose 1.34%. NASDAQ was up 1.86%. 10 year yield grew 0.073 at 2.913 and thus recent uptrend prolonged to the key resistance of 3.036.
Today, the US provides traders with a batch of important data, including regional Fed surveys from Empire state and Philadelphia, Purchasing Price Index, jobless claims, industrial production and NAHB housing index. Meanwhile, Bitcoin stabilized and attempted to break through $10,000 line. If it ultimately does exceed this level, investors will regain their hopes about the cryptocurrency.