U.S stock market start the month with bullish note

The bearish reactions after GDP data release shrugged by the market as it closed higher. The index continue trading upward today but with limited upside. It seems traders are expecting rate-cut will happen as the economic data show deterioration real quick after tariff war. Buying the low might be the best choice traders could do for now if downturn happen.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index advance higher today which mean the index will target the upper gap first or test resistance levels. Will the index close the gap first before turning lower? Alternatively, will it turn lower again at the current level to fill the lower gap before starting moving upward again? Traders better await for further confirmation for now.

Molson Coors Beverage Company (TAP)

TAP share prices turned lower and reached the daily SMA 200. It looks trading between the two trend lines, which suggest possible downward movement to test the bottom trend line. Traders will use the bottom of the area to enter long positions with a stop below the previous swing low. Or use the top of area to enter short positions. When a bullish breakout with strong momentum happen, it is the confirmation on the next long-term direction.