US Stock Market Technical Analysis | November 09, 2021

DJIA futures pointed lower after record high

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The bullish streak of the stock market continue yesterday after the House approve the infrastructure spending bill last Friday. No change to the bullish situation yet as more companies will report earnings results. Moreover, the Fed tapering has started but might be done flexibly depending on the economic development.

GE share prices are the notable mover today with an 8% gain before the market opened. The company announced that it will split into three entities which focused on Aviation, healthcare, and energy.

Technical Analysis

Dow Jones Industrial Average (INDU)

The bullish streak of the DJIA index continues without any bearish reaction. The index keeps printing new record highs and might continue its upward movement. However, a bearish pullback is imminent for the index to continue the bullish movement. At the current time, DJIA futures are lower 86 points and indicate weakness at the opening.

Dropbox Inc (DBX)

DBX pullback lowers with major bearish momentum yesterday after the earnings result. The share prices made a close near the daily SMA 200 and might extend the bearish movement for a few days. At the current time, traders will monitor the share prices movement near the averages. If the bull could reverse the major bearish pressure by making a major bullish bounce then the bullish trend is set to continue.

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