Instrument: US 30 (Dow Jones Industrial Average index)
Technical Analysis Bearish Preference: Sell position is envisaged if price trades below 29932 with take profit at 29773 Bullish Preference: Buy position is envisaged if price trades above 30078 with take profit at 30173 Fundamentals: Prelim GDP q/q (USD) 2:30 PM Unemployment Claims (USD) 2:30 PM Revised UoM Consumer Sentiment (USD) 4:00 PM FOMC Meeting Minutes (USD) 8:00 PM Comment: The recent positive stance on the index continued in yesterday's session as clarity with respect to political transition in the US boosted sentiment. The nomination of the former Federal Reserve Chairperson, Janet Yellen as the Treasury Secretary coupled with the progress recorded in the development of COVID-19 vaccine lend further support to the stock market. The gains are still limited by the rising number of new infections in the country but the overall sentiment remains bullish.