Stock futures flat after winning day

The situation of the stock market looks flat nearing the end of the month. It has been a bearish month and might extend to next month as historically September has been the worst month for the stock market. Despite the situation, it is a big chance for traders to collect shares at a discount. Traders will wait for the bearish pullback in the stock market and enter more long positions at a lower level.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index staged a bullish bounce from the daily SMA 100 and currently testing the daily SMA 50. The index might continue the bullish movement but traders might expect another bearish attempt in September. At the current time, the consolidation might happen between the daily SMA 50 & 200 and traders will observe the index movement between both averages.

Carnival Corp (CCL)

CCL share prices undergo bearish correction and will reach the daily SMA 100 soon. Traders will wait until the share prices hit the averages for bullish reactions. When there are bullish reactions from averages then traders could enter long positions. We think the bullish trend will continue for the long term and traders will continue accumulating long positions while the share prices undergo bearish correction.