U.S stock market slightly higher as traders await U.S-China trade talk

The talk is being held but no major details released yet. Traders are waiting for the trade talk results to determine where the market direction next. We mentioned that this month, we might see heavy ranging movement in the stock market as we might not see major news release. Next month, the deadline of tariff pause is looming. The market direction might depend on what happen after the tariff deadline. It is whether the tariff take place, or another pause happen again.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index not giving any bearish sign yet, the index mostly sideways near the daily SMA 200 with slight bullish pressure. As mentioned before, we are waiting for a sharp bullish breakout or a bearish reversal toward the 40,000 handle. It seems traders also waiting for more confirmation from the tariff talk between U.S-China. When there is an announcement or update on the news, we should see some trending movement in the index.

Box, Inc (BOX)

BOX share prices has broken above the $36.00 handle and looks continuing upward. At the current time, the share prices might start a bearish pullback, where traders could wait near the breakout area for long positions chance. The area between $32.50 – $36.00 could become the place where traders look for bullish reactions to enter long positions. On the upside, $40.00 is the nearest resistance level to watch.