U.S stock extend bullish movement

There is no stop to the bullish movement of the stock market yet. S&P 500 hit new record high and Nasdaq keep printing higher. The only one which lagging is DJIA index, but it continues moving upward too. Under current situation, there is no sign of weakness and traders better stick with long positions. Despite the current bullish movement, we are nearing to the tariff extension deadline next month. There might be a bearish correction and traders will use it to add long positions.

Dow Jones Industrial Average (INDU)

DJIA index breakout from the consolidation range and continue the bullish movement above the daily SMA 200. It will target the previous swing high and print new record high. No sign of weakness yet which mean traders better avoid shorting. If a bearish correction happens, then the trend line and the daily SMA 200 will become the support level to watch.

Waste Management, Inc (WM)

WM share prices looks trading between the two trend lines and currently located near the bottom trend line. Traders will wait for bounce reactions from the bottom trend line or the daily SMA 200 to add long positions. We expect the share prices to continue the bullish movement between the two trend lines. Unless there is breakout below the trend line and the daily SMA 200, the trend will continue bullish.