Stock futures were slightly higher before the start of second-half

The stock market situation is mostly positive today before the start of the second half of this year’s trading. It seems traders betting that the latest inflation numbers will continue to trend down and eventually push the Fed to start cutting interest-rate. Traders will continue to maintain a bullish outlook for now and use each bearish correction in the stock market as a chance to add more long positions.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index attempted to continue the bullish movement but ended with a spinning pattern which means uncertainty. The index might attempt to continue the bullish movement and print a new higher swing high. However, the index might also continue trading sideways near the current level until further confirmation. On the lower side, as long as there is no lower swing low printed on the chart, the bullish trend could continue.

PDD Holdings Inc (PDD)

PDD share prices are trading above the daily SMA 200 and are currently undergoing a bearish correction. Traders could wait for bullish reactions near the averages to enter long positions. Long positions could be taken with a stop order below the $110.00 handle or previous swing low. On the upside, the share prices will target a new higher swing high.