DJIA futures are trading lower while S&P500 & Nasdaq advance

The U.S. stock market is set to open the day with mixed signals as DJIA futures are currently lower by nearly 70 points while the S&P500 is up 11 points and Nasdaq is up 84 points. It seems the market switching back to the technology sector after three consecutive bearish closes. Traders will continue to expect the stock market to continue moving upward. If a bearish correction happens in the stock market then traders could use it as a chance to add more long positions.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index is mostly higher and soon will reach the previous swing high. Traders will continue to hold a bullish outlook and wait for the test of the swing high. When the index could print a new higher swing high then the bullish trend could continue. On the lower side, the daily SMA 100 is the support level to watch when a bearish correction happens. As long as there is no lower swing low printed on the chart, the bullish trend could continue.

Fiserv Inc (FI)

FI share prices are in an uptrend but currently undergo a sideways movement. The share prices need to break above the trendline to continue the bullish trend. Traders could use the horizontal line as a place to accumulate long positions. However, if the share prices break out and close lower with a new lower swing low then we might see a deeper bearish correction.