Monday Dow Jones Market

Hi Readers and Fans of SGWiseInvestors,

Thanks for reading the blog material and let me do a run through of the Monday Dow Jones market.

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Monday Dow Jones Market

Stocks suffered their biggest one-day slide in nearly seven weeks on Monday as a withering sell-off among energy companies, which closely tracked oil’s continued price slide, dragged down key benchmark indexes. 

Downbeat economic reports from China, Japan and Europe also dented sentiment. Nervousness among investors was evident from a jump in 10-year Treasury yields, rising five basis points and a 20% jump in the CBOE VIX index, commonly known as Wall Street’s fear gauge.

This pullback is long expected as RSI has been overbought since 17 Nov 2014. This pullback is met with support at 17,800. If the market is to pullback further, we will see it approaching 17,600 support. 

Readers of all sources are asking me about the outlook of the market. I remain short term bullish. This is basically a buy in dip opportunity for traders. The Short-Term Uptrend and Long-Term Uptrend are still intact. Unless we see a breach in support line and this will be our confirmation if the uptrend line will still resume.

There are a lot of IPO stocks that will be launched this month. There are three prominent Tech stocks like Lending Club (NYSE:LC), MOMO (NASDAQ: MOMO) and also Workiva (NYSE: WK).

1) Lending Club is online network that connects lenders with borrowers. It is offering 57.7mio shares at price in the range of 12 to 14. Investors includes Lending Club is GOOGLE.

2) MOMO is platform for dating activity but is also used to help people find new friends. This is reported to be the third largest mobile social app in China behind Wechat and QQ that are owned by Tencent.  Investors includes ALIBABA and 58.com.

3) Workiva is a cloud-based and mobile-enabled platform companies that use to collect, analyse and manage business data. Customers include Boeing, Google and Wal-Mart.