Stock futures traded upward on Monday after a weekly loss

The situation of the U.S. stock market has not turned bullish yet as the Sell on May and go away continue. Traders cheering the falling inflation rate but scrutinizing the debt-ceiling issue. We expect the debt ceiling will be raised again which could bring bullish pressure to the stock market. This month might be the best month for traders to continue accumulating long positions before the impending bull market. It is better to avoid short positions as the situation could change drastically.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index is trading near the daily SMA 200 and is set to bounce from the averages. If the bounce happens then the index will continue consolidation between the averages and the top trendline. Traders will continue waiting for the index to break out from the range to confirm the next direction. Meanwhile, the trend will continue sideways as the index consolidates between the daily SMA 200 and the trendline.

The Trade Desk Inc (TTD)

TTD share prices are bullish, moving slowly upward and bouncing from the level near the daily SMA 50 whenever a bearish attempt happens. Traders will use each bearish movement to enter more long positions near the daily SMA 50. However, if the share prices move lower with strong bearish momentum and close below the daily SMA 200, the situation will turn bearish.