U.S stock market extend bullish movement

The stock market getting more bullish after yesterday CPI data. Traders are betting for more relaxed policies from the Fed. Tomorrow, PPI data might be another news to watch. However, looking at the market movement, it seems the bullish movement could continue for now. Development on tariff situation between U.S-China might be the major thing to watch.

Dow Jones Industrial Average (INDU)

DJIA index moving upward and getting near the previous swing high. It will test the level and attempt to breakout higher. Under current situation, traders will ride the bullish movement and see whether the index could breakout above the resistance level or not. If the index turn lower again, the trend line and daily SMA 200 will continue act as support level to watch.

Brinker International, Inc (EAT)

EAT share prices is trading lower right now and has reached the daily SMA 200. It shows initial bullish reaction but no strong follow-through yet. We might see the share prices continue to stick near the averages and will wait for further reactions. If the share prices could maintain the position and bounce upward with strong momentum, then it will test the top trend line. Traders who want to enter long positions could place the stop order below SMA 200 or below $120.00.