Stock futures mostly flat after new record high

No stop to the bullish sentiment in the stock market yet. Major indices continue to climb to new record highs and there is no sign of stopping yet. The bullish trend is on the loose and it is better to wait for a pullback in the stock market to enter more long positions. We are not changing the bullish outlook yet, the game continues the same, buy the dip and sell the top.

Technical Analysis

Dow Jones Industrial Average (INDU)

The DJIA index extended its bullish movement to a new record high and not showing any weakness yet. The index might continue the upward movement to target the 45,000 handle and the 38.2% Fibonacci Extension level. We will wait for a bearish correction in the index toward the 43,325 level after the resistance level is reached. In the long term, there is no change to the bullish outlook of the index yet which means better to continue accumulating long positions in stocks.

Hecla Mining Company (HL)

HL share price bearish leg has reached the daily SMA 200 where it shows bullish reactions. If the share prices could bounce upward with strong bullish momentum then it will target the daily SMA 100. Will the share prices continue the bullish movement and print higher swing highs and higher swing lows? Traders could use the daily SMA 200 as a place to enter long positions.