DJIA index soars more than 300 points

The U.S. stock market traded bullishly last week as the S&P500 also Nasdaq led the bullish movement. This week, stock rotation happened as traders moved out of NVDA and entered other stocks in other sectors. It is more apparent with technology sectors becoming the only ones in red today. Traders will continue to hold long positions and buy when a bearish correction happens this year.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index continues the bullish movement after the bounce from the daily SMA 100. The index will soon retest the previous swing high and attempt to print a higher swing high. Currently, the bullish trend will continue and traders will ride the upward movement. If the index starts another bearish correction then it is a chance for traders to add more long positions at a lower level.

Dominion Energy Inc (D)

D share prices are printing new higher highs and higher lows. At the current time, the share prices are trading lower and set to test the trendline and the horizontal support line. If the share prices could maintain the positions and bounce from both support levels then the bullish trend could continue. Traders will use the current bearish correction as a chance to enter long positions.