Boeing triggers global stock market sell-off…seeks $10 billion loan!

by John Knobel

 

  • Global stock indices sell off overnight on news reports that Boeing is seeking a $10 Billion Loan. Technical traders get sell signal near recent highs after the Dow reaches the key 29,290 extension level.
  • Most of the major global stock indices remain in an uptrend, however downside risk remains as profit taking from long term buyers near recent price extension levels could lead to lower stock prices on selling pressure in the short term.
  • Dow Jones futures current price near 29,192 down around -90 points as of 9:25 GMT today.
 -Resistance at 29,362 (recent high)
- Support spotted near 28,750
Source: FXGM Investment Research Department / Bloomberg
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