DJIA futures are higher by 150+ points before the market open

Traders are flocking to buy stocks as the latest inflation data show a continuous downward trend which will push the Fed to leave its rate-hike plan. Traders getting more bullish and the stock market might enter a new bullish trend soon. No change to our strategy, traders will continue accumulating long positions while waiting for a bearish correction. When a bearish correction happen, traders could enter long positions near support levels.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index maintains its position near the high and will attempt to extend the bullish movement. There is no solid bearish indication and traders will assume the upward trend will continue. If a bearish correction happens then it is a chance for traders to enter more long positions. In the long term, we think we are not far from the new bullish trend bottom.

Ebay Inc (EBAY)

EBAY share prices return above the daily SMA 200 and currently might retrace toward it. Traders will wait for bullish reactions from the averages for a chance to enter long positions. We think the trend will turn bullish and traders will continue accumulating long positions at the current time. No upside target yet as we will prepare for the upcoming new bullish trend.