U.S. stock futures higher to kick-off trading after holiday

The stock market is set to open higher today as futures advancing before the market open. However, the situation might be sideways as traders will get more confirmation on companies earnings and inflation data. Under current situation, traders will wait for bearish correction in the stock market to add more long positions and wait the data releases.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index mostly sideways below the 45,000 level and the record high. The index maintain bullish outlook and might attempt to breakout higher to reach new record high. However, if bearish correction happen again, then traders will expect the index to target the daily SMA 100. At the current time, we have 44,000 as support level to watch in case the index wick lower.

Salesforce, Inc (CRM)

CRM share prices bounced from the daily SMA 100 where traders could enter long positions. The share prices have the daily SMA 100 as support level and the support area between $315.00 – $320.00. If the share prices could turn higher with strong bullish momentum, then the bullish trend will continue. On the other hand, if the share prices breakout below the daily SMA 100 then traders will expect bearish continuation toward $290.00 – $300.00 and the daily SMA 200.