U.S stock futures slightly lower after record high

The stock market might open lower this week after a strong performance last week. Traders will keep assuming that the bullish trend will continue. If the stock market starts a bearish correction then traders could prepare to add more long positions at a lower level. This month, the market will focus on the Fed interest-rate decision. We might not see a rate cut this month but when the actual rate cut happens, the stock market will extend its bullish movement.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index hanging near the high and there is no major sign of bearish correction. The index might keep moving higher as earnings releases beat analyst projections. However, if the index starts a bearish correction then traders could wait near support levels for bullish reactions. When there are bullish reactions near the support level, traders could add more long positions in stocks.

The Trade Desk Inc (TTD)

TTD share prices broke out from the bearish channel and printed a new higher swing high. At the current time, the share prices might start a bearish correction to close the earnings gap. Traders could wait near the gap close level or the daily SMA 200 for bullish reactions. When there are bullish reactions, traders could enter long positions targeting a new higher swing high.