Bull pressing forward?

It has been six-day since the Dow closed above $18,668 and the bull looks on fire to bring the index up more than 19,000. Unfortunately, the index stalled and seems to reverse as Dow Jones Industrial Averages Futures down 11 points before market open.

There are no major news releases on the agenda, only several Fed members speeches after Yellen testimony Yesterday. We can expect the market will flat or move lower today for correction.

On the other side, U.S dollar index giving up gains after it reached high 101.37, the index currently moving near its opening price at 101.07.

Technical Analysis

Dow Jones Industrial Averages (INDU)

Harami pattern not yet triggered and previous day candle closed inside the harami candle which suggests more indecision before a breakout. The market might continue sideway today with a tighter range.

Dollar Tree (DLTR)

DLTR broke below its SMA 200 and move lower toward the lower horizontal S-R, the price found support and bounce sharply in just 7 days. The bounce brought the price near upper horizontal level and also its SMA 200. Will it bounce and move lower?

Dow Chemical (DOW)

A triangle pattern formed in DOW, the pattern has not triggered yet and consolidation pattern continue after the price move out of triangle. We can expect strong movement soon in the share price, the typical scenario is sudden sell-off followed by swift recovery, if not it will just break normally upside.