The stock market little changed during the shortened session

The U.S. stock market seems trading sideways ahead of the 4th of July holiday. Not much movement in today’s trading session and traders might want to stay sideline for this week. At the current time, if a bearish correction happens in the stock market, traders will continue to use it as a chance to add more long positions. The next inflation data will give more clues on the direction of the market.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index maintains the positions near high but no bullish continuation yet. The index might continue trading sideways with a bullish bias for now. On the upside, the index will target a new higher swing high. However, if the index experiences a bearish reversal and falls below 38,000 then the trend might turn bearish for the medium-term.

Target Corp (TGT)

TGT share prices are currently in a bearish correction phase and stick near the daily SMA 200. If the share prices could maintain the positions and bounce from the averages then we might see a new bullish leg to continue the bullish trend. However, if the share prices continue moving lower and print a new lower low then the trend might turn bearish for the medium-long term.