Monday, 25 August 2014

Market Overview : US Equity Market




US equity market broke its all time high's but could not sustain on higher levels. 

The S&P 500 was able to hold the 2000 mark after moving above the milestone level for the first time on Monday still managed to close to a record high, followed by financial and technology stocks.  

Dow Jones Industrial Average rose 76.29 points or 0.45% with Nasdaq Composite closing at 4557.35 
with a gain of 18.80 or 0.41%. 

Consumer Confidence data is due on Tuesday which is expected to help bulls to sustain over the 
 market.

Stock pick of the day : MARRIOTT INC NEW





Recommendation : Buy above $68.75
 
Target $70.50


STOCK SUMMARY:-
 
Mariott Inc New is overall in bullish trend and is sustaining at higher levels on chart. Traders can buy 

the stock above the level of $68.75 which is a near term resistance level for the stock, and if it manages 

to breach this level further bullish movement is expected in this stock to test the levels of $70.50.


CHART FORMATION
 
Stock is in bullish trend for near term and price is sustaining above the trend line and with good 

consolidation and trend line breakout on daily intraday chart. Near term breach of resistance level of 

$68.75 is expected, which would trigger bullish sentiment in the stock to test the levels of $70.50.


INDICATORS:-
 
RSI is trading with positive bias and in MACD signal line is sustaining above MACD line which is 

indicating bullish sentiment in the stock.


Bulls and Bears of NYSE

 


BULLS OF THE STREET (NYSE)

Name
Close Price ( $ )
Change %
CHC Group
07.10
14.70
Autohome ADS
49.54
13.47
Leju Holdings ADS
18.41
13.29
Dynegy
32.32
08.75
TRC Cos.
05.81
08.40

BEARS OF THE STREET (NYSE)

Name
Close Price ( $ )
Change %
China New Borun
02.50
10.71
Aeropostale
03.52
09.97
Och-Ziff Capital Management
11.99
06.69
CGG ADS
08.61
04.97
China Green Agriculture
02.31
04.55

Stock Market Overview : US Equity market



US equity market ended on a mixed note on Friday with geopolitical concerns and speeches on labor market dynamics from Fed chair Yellen and ECB President Draghi at Jackson Hole Symposium. With no major data due on Monday market is expected to trade range bound with less volume.