U.S stock futures slightly higher as traders await more economic data

The stock market is set to trade higher in today’s trading session after several losing days. Traders and investors will prepare for the upcoming release of economic data after June month end. The second quarter or first-half report will give a hint for the rest of the year’s outlook. A new bull market might not be far and traders will continue using each bearish correction as a chance to accumulate more long positions.

Technical Analysis

Dow Jones Industrial Average (INDU)

The bearish correction in the DJIA index is in progress as the index tests the broken trendline. No conclusion yet on where the index will move next. Traders will continue to monitor the index reactions near the trendline for now. If the index continues the bearish movement then it will re-enter the consolidation range between the daily SMA 200 and the trendline. On the other hand, a bounce with strong bullish momentum from the trendline will become a major bullish confirmation.

Boeing Co (BA)

BA share prices trading upward above the daily SMA 100. Each bearish attempt always stopped near the averages and a bounce always happens. At the current time, traders will use the chance to enter long positions with a stop below the daily SMA 200 or previous swing low. We expect the share prices will continue the bullish trend and target a new higher swing high.