Stock futures is set to continue the gain after strong week

The stock market seems building more bullish momentum after the previous week’s strong upward movement. Traders and investors keep getting optimistic that the Fed will not raise interest-rate again. Under current situation, traders will continue maintain bullish outlook and wait for bearish pullback to enter more long positions in stocks.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index currently consolidating between the daily SMA 100 & 200. The index might continue trading sideways and traders will wait for a breakout from the range. If the index turns lower then traders will wait until the index forms a higher swing low to confirm the continuation of the bullish movement. A new higher swing high above the daily SMA 100 will confirm the continuation of the bullish trend.

Upwork Inc (UPWK)

UPWK share prices gapped up after the earnings results and showed a bearish pullback. The share prices might continue the bearish movement to retest the cluster of averages and traders could wait near it. If there are strong bullish reactions then traders could add more long positions.