U.S stock futures mildly higher, looking to extend gain

The stock market might open higher today following the bullish close that happened yesterday. The bullish movement is a reactive movement against Tuesday’s bearish close. If the stock market could continue moving upward with strong bullish momentum until the end of the week then it means traders disregarding the inflation data and place more weight on the Fed rate cut.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index did not continue the bearish movement yesterday and looks making a recovery. The index might continue to maintain the current level and move upward again. If the index resumes the bearish movement and reaches a support level then traders will monitor the reactions. When there is bullish reactions, traders could continue adding more long positions in stocks.

AT&T Inc (T)

T share prices are in a bullish trend inside a channel. The share prices currently moving lower to test the support level. Traders could use the bottom trendline or cluster of averages to enter long positions. Unless the share prices print a new lower low on the chart, it is better to keep holding long positions.