Stock market recover on Tuesday after Monday sell-off

Traders are getting optimistic and see a rate-cut is imminent on 10th December FOMC meeting. At the current time, the probability rise to 89%, and it is the driving force of current upward movement in the stock market. However, we might see the market trading cautiously ahead of the FOMC meeting, and it is better to stay cautious and trade defensively.

Dow Jones Industrial Average (INDU)

DJIA index opened higher today and recover from the Monday drop. However, the index has not left the Monday’s range, which mean the situation is neutral. Traders might expect a choppy or high volatility situation nearing the Fed FOMC meeting this month. Nevertheless, we still expect the index to continue upward and print a new record high.

Nano Nuclear Energy Inc (NNE)

NNE share prices looks trading inside a big bullish channel and currently moving near the bottom of the channel. It is a chance for traders to enter long positions and ride the bullish wave to the upside. On the lower side, the stop order level will be below $27 or $16.00. A close below $27.00 with strong bearish momentum could become the confirmation that the trend has changed to bearish.