U.S stock futures continue the upward pressure

It seems the DJIA index is trading flat while the Nasdaq and S&P 500 continue to rise and print new record highs. The current situation is mostly driven by an increase in NVDA stock prices and traders seem to continue riding it to the upside. Traders will continue to use each pullback in the stock market as a chance to add more long positions. When the inflation numbers continue to decline, the stock market will start a new bullish leg.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index hanging near the daily SMA 100 and might attempt to extend the bullish movement. At the current time, the situation is neutral and traders will observe the reactions near the averages. No conclusion yet on the index’s next direction but the recent movement failed to print a lower swing low which means the overall trend is bullish.

Sunrun Inc (RUN)

RUN share prices are in a bearish trend but recently the share prices managed to print a new higher high and higher low. If the share prices could continue upward and print a new higher swing high then the trend will turn bullish. On the other hand, if a bearish breakout and a new lower low are printed on the chart then the bearish trend will continue. Traders could consider entering long positions when the bearish movement toward the support level happens and place the stop level below the latest swing low.