U.S stock market mixed

The stock market mostly mixed as Nasdaq reached new record high, while S&P 500 near the top. The rally after potential cease-fire between Israel-Iran might be short-lived as both parties pointing at violation just hours after the announcement. Nothing much to expect for now, and no change to the strategies traders could use, which is to use each bearish movement in the stock market as a chance to accumulate long positions.

Dow Jones Industrial Average (INDU)

DJIA index made a bearish movement today, which might indicate indecision before tomorrow U.S. GDP data. No change to the previous outlook even though the index trading upward. We could say the index contained within the range for this month. Shake out could happen to test support level before further upside. However, the index might also continue moving upward and disregarding other signals. Next month might give better confirmation on the index direction.

Colgate-Palmolive Company (CL)

CL share prices high looks getting lower while the low mostly the same. It could mean the share prices has strong support and the price might continue to bounce from it. However, on another perspective, the price might attempt to breakout lower and turn the trend bearish. Or, a stop hunt might happen below the support level before the price could turn bullish. Under current situation, if the price manages to reach $83.54 – $85.00 area, then there is chance to add long positions.

Traders could also use the area between $83.54 – $88.46 to enter long positions.