Stock gains for the seventh days

The stock market enjoyed bullish sentiment after the expectation that interest rates would peak. Traders and investors are flocking to the stocks and the bullish situation might continue for now. However, the global market situation could change depending on the situation in Palestine. If war escalates and spreads out then we might see a major bearish movement in the stock market.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index maintains the bullish pressure and attempts to extend the bullish movement. At the current time, the index is trading above the daily SMA 200 and managed to print a higher swing high. When the index starts a bearish correction, the daily SMA 200 will become the major support level to watch.

The Cigna Group (CI)

CI share prices are at an interesting place where it trade near the bullish trendline and also the horizontal flip level. The current bearish movement has strong momentum which could mean a trend reversal. Traders will monitor the share price reactions near the current level. If the share prices could bounce with strong reactions then traders could enter long positions.