U.S stock market to open the May trading month on the bullish side

The global stock market mostly trading on the positive side today as traders and investors betting on economic recovery. While the DJIA index trading near the record high, traders will continue to hold long positions in equity and avoid shorting until there is a major bearish indication.

This week, traders will continue observing the release of earnings data and economic data to get clues on the economic recovery.

Asian & European Stock market

The Asian stock market slightly higher. Japan and China stock market closed, and Australia ASX 200 up 3.00 points (+0.04%) to 7,028.80. The European stock is also trading optimistically. DAX Germany up 0.57%, UK FTSE up 0.12%, and Euro STOXX600 up 0.39%

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index mostly trading flat near the all-time high. The index might continue to consolidate while more company reports and economic data are released. Traders seem optimistic that economic recovery will pace up this year with DJIA futures trading up, more than 200 points.

Traders could continue to hold long positions for now while waiting for a bearish pullback to add more long positions.

Riot Blockchain Inc (RIOT)

RIOT share prices trading 10x than October last year. The share prices seem trading lower toward a horizontal line and the daily SMA 100. If the share prices could bounce from both support levels then traders will expect the bullish movement to test the top trendline.

A breakout above the trendline will bring the share prices back to its bullish track.