U.S indices to new record high as shutdown set to end

The DJIA index, climb to new record high, rallied more than 300 points on the hope that government shutdown ended on Wednesday. No change to the bullish situation as we are nearing the end of year when another rate-cut might happen. Traders might drive the market upward but stay cautious as economic data releases resumed. We maintain bullish outlook on the market for now but ready if there is major bearish reversal.

Dow Jones Industrial Average (INDU)

DJIA index has reached new record high and now will attempt to continue upward to target 49,341 and 50,000. As the upward movement continue, it is better to let the index move upward and wait for bearish correction. When there is bearish correction, traders could add more long positions. 48,000 will act as support level now when the index starts a bearish correction.

BlackRock, Inc (BLK)

BLK share prices fell below the daily SMA 50 with strong bearish momentum. It stages a recovery and currently trading near the averages. But we might see bearish continuation to target the daily SMA 200 and the $1,000 level. The area between both levels could become the place traders look for long positions. A swept and return above the level could become the signal traders look.