U.S stock market indecisive

The strong bullish movement in the stock market after weekly consecutive sell-off seems slowing down today. Major indices trading mostly near the opening level, which suggest a pause. No major news releases today which mean the market might trade sideways. On the tariff side, it seems softer tariff expectation boosted the market sentiment right now.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index climb above the daily SMA 200 and looks will continue the upward movement. The daily SMA 200 will become the major support level to watch. If the index bounced lower and fall below the daily SMA 200 again, then traders will expect bearish continuation to target a new lower swing low.

Illinois Tools Works Inc (ITW)

ITW share prices trading upward inside its bullish channel. It is currently trading near the daily SMA 200 and might bounce upward again. Traders will continue accumulating long positions near the bottom of channel and the daily SMA 200 while targeting the top of channel.