Stock futures pointed upward as Disney topped analysts’ expectation

The stock market is set to open higher today following strong earnings results from Walt Disney. The company reported eps of 99 cents vs. 78 cents expectation. Revenue comes out at $23.51b vs. the $23.37b expectation. At the current time, DIS share prices are up nearly 6% before the opening bell. Traders will continue to monitor the earnings releases this week. Next week, the market will focus on the release of U.S. CPI data. A lower CPI number will become a catalyst for upward movement in the stock market.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index made a bearish close yesterday but is expected to continue building more bullish pressure to retest the top trendline. At the current time, the DJIA index is up more than 200 points. If the index could break out above the trendline and print a new higher high then the bullish trend is set to continue. On the other hand, if the index continues moving lower and prints a bearish close below the daily SMA 200 then the trend could turn bearish again.

Deere & Co (DE)

DE share prices moving lower slowly and currently reaching the daily SMA 100. The share prices might retest the bullish trendline and look to bounce from it. Traders will observe the reaction near the trendline. When there are bullish reactions, traders could enter long positions with a stop below the daily SMA 100 or the SMA 200.