Stock futures slightly higher after new yearly high

The advance of the stock market managed to secure a new yearly high and there is no sign of stopping yet. The current situation might continue but traders will expect a bearish pullback for a chance to enter more long positions at a lower level. It seems the market is already priced in no more rate-hike and ready for a rate cut which might happen next year.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index climbs with strong bullish momentum and prints a new higher swing high. The index is expected to print a new higher high but the current event is faster than expected. Despite the situation, with no change to the bullish situation, traders will wait for the index to start a bearish correction for a chance to enter more long positions in stocks at a lower level.

Halliburton Co Com (HAL)

HAL share prices underwent a bearish correction and almost reached the daily SMA 200. Traders could monitor the share price reactions near the averages. When there are bullish reactions, traders could enter long positions. However, if a bearish breakout below the averages happens with strong momentum then it is time to wait and see.