U.S stock market mixed on the top

Although there is hint of weakness in the end of week, the stock market mostly higher this week and ready to close the week with strong gain. Traders are digesting the inflation data and looks like continue betting on rate-cut. Talk between U.S-China and U.S-Russia will become the focus for now. The index next direction will depend on the result of the talk and it could go any other way for short-term. In the long-term, we still think the index could continue the bullish movement.

Dow Jones Industrial Average (INDU)

DJIA index opened higher today and reached a new record high. However, the index currently experiences bearish pressure and pushed lower near the previous day’s close. At the current time, the index might continue to stick near 45,000 level and will attempt to breakout above it. A consolidation might happen and slight bearish pressure, but eventually we think the 45,000 level will be broken.

Coinbase, Inc (COIN)

COIN share prices experience a bearish pullback after surprise earnings result. The stock price might continue trading lower to target the box area we have drawn on the chart. Also, there is the daily SMA 200. Both levels will act as support level and traders could use it as a place to enter long positions when the price stabilizes.