U.S stock market struggle to retain gain

At the opening of today trading session, major indices advance and continue its recovery. However, the upward movement lost momentum and major indices now trading below the opening level. If the situation continues until the market close, then we might see bearish continuation in tomorrow trading session. No strong news to hold-off the market from moving lower for now. It might be better to stay sideline and wait until strong bullish indication happen.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index make a bullish recovery and currently trading near the daily SMA 200. The index stuck near the averages and might stick near it for now. On the bigger view, we have a lower swing low. If the index could not move upward and print new higher swing high, then the trend will turn bearish for medium-long term.

Ralph Lauren Corporation (RL)

RL share prices bearish correction almost reached the daily SMA 200. The share prices might continue the downward movement to test the daily SMA 200. When the test happen and there are bullish reactions, then traders could enter long positions. On the upside, $240.00 is the resistance level to watch when the share prices start moving upward.