U.S stock market maintain small gain

The stock market slightly higher today, but there is no strong momentum as job data show weakness. The seems worry that the economy might slow and risk of recession rising. This week, Non-farm employment data might trigger some movement in the stock market. Nevertheless, as we mentioned before, June might be a heavy sideways month as traders waiting for the Fed and clarity on tariff war.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index continue trading sideways near the daily SMA 200. No change to the situation yet for now as the index will wait for further confirmation. If the index start moving lower, then 40,000 is the ideal bearish target to watch. Traders could wait near the support level for bullish reactions to enter long positions in stocks.

Peloton Interactive, Inc (PTON)

PTON share prices is currently consolidating near the daily SMA 200 and supported by the trend line. It formed a triangle pattern where a bullish breakout might happen. However, if the share prices breakout lower below the trend line, then traders will expect continuation of bearish trend. Under the current situation, traders could use the trend line and the daily SMA 200 as places to add long positions.