U.S. Stock Market Mixed

The situation of today’s stock market is mixed as DJIA index futures move upward but Nasdaq and S&P500 turn lower. Results from major tech companies beat analysis expectations but the market shows bearish reactions. It could be a buy-the-rumor and sell-the-news event where traders could use the bearish movement as a chance to add long positions.

We still think the market will continue moving upward in the long-term and suggest traders continue accumulating in the first and second quarters.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index continues the bullish move on the daily chart and there is no bearish pullback yet. Nothing changed yet, traders will continue to maintain a bullish outlook while expecting a bearish pullback. When a bearish pullback happens, traders will wait near the support level for bounce reactions. The next bearish correction move might be the last chance for traders to onboard the bullish train.

Robinhood Markets Inc (HOOD)

HOOD share prices are in a bearish correction phase and reached the cluster of averages. Traders could wait until the share prices stabilize near the averages and show bullish reactions. Long positions could be considered when a bullish close above the consolidation range happens.