The stock market pointed upward after Netflix’s results

DJIA futures are currently up 73 points and Nasdaq is up 0.65% as Netflix reported a 13 million increase in subscribers in the fourth quarter. It brings the total subscriber to a new all-time high of 260.8 million. NFLX shares jumped nearly 10% before the market opened. It seems the bullish sentiment will continue but traders will monitor the release of earnings by IBM, TSLA, ASML, and T.

We might see a blowup in the earnings result this season which could bring the stock market further upside. Despite the situation, traders will use each bearish correction in the stock market as a chance to add long positions before the Fed eventually rate-cut this year.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index maintains its position near the top and not showing major weakness yet. The situation of the index might continue bullish for now as earnings season is ongoing. Traders will continue waiting for a bearish correction in the stock market for a chance to add more long positions at a lower level.

Coinbase (COIN)

A bearish pullback in the COIN share prices is a good chance for traders to add long positions before the Bitcoin halving event this year. Traders could use the cluster of averages and the horizontal line as shown on the chart as places to add long positions. When the bitcoin market starts moving up again, COIN share prices are expected to experience gain too.

Paypal (PYPL)

PYPL share prices show bullish signs as it return above the daily SMA 200. If the share prices continue to maintain the bullish pressure and climb above the daily SMA 200 then the bullish trend could start. Traders will use the daily SMA 200 as place to enter long positions with stop below previous swing low.