DJIA futures up 30 points before the market open

The stock futures are mostly flat today after the first bearish close yesterday. The situation has not changed yet which means we might see further upside in the stock market. However, if a bearish correction happens then traders could use the chance to add long positions near support levels.

This week, traders will focus on the release of job data. Next week, the Fed interest-rate decision will become the focus. It seems the market has prices in that no more rate-hikes and traders awaiting planned rate-cut. At the current time, traders who has long positions will continue to hold until the news releases.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index continues hanging near the top without major bearish reactions. The index might continue to maintain the bullish pressure and attempt to extend the bullish trend. At the current time, traders will wait for the index to start a bearish correction toward the support level for a chance to enter long positions in stocks.

Under Armour (UA)

UA share prices have returned above the daily SMA 200 and will attempt to continue the bullish movement. If the share prices start moving lower then traders could wait near the averages for a chance to enter long positions. When there is bullish reactions, it is the confirmation for traders to add long positions.