Stock futures are slightly positive in an attempt to extend winning

The bullish movement of the U.S. stock indices continues at the beginning of the week. Traders are flocking to the stock market in the hope that the Fed could not further raise interest-rate. We think the stock market could continue moving bullishly in the long term. However, if the stock market undergoes bearish correction then traders could wait near the support level for a chance to enter more long positions.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index continues the upward movement and is set to target the top trendline. There is no sign of weakness which means traders will wait for reactions near the top trendline. If the index could break out, close above the trendline, and print a new higher high, then the bullish trend could continue. However, if a bearish rejection happens then the consolidation between the daily SMA 200 and the trendline will continue.

Colgate Palmolive (CL)

CL share prices are trading up and reached the daily SMA 200. The share prices will test the resistance level and wait for further reactions. In the previous bearish attempt, there is no lower low printed. If the share prices could break out above the averages and continue upward to print a new higher high then the trend will turn bullish. However, if the share prices experience bearish rejection from the daily SMA 200 and print a new lower low then the bearish trend might continue.