Stock futures continue to be flat before inflation data

The stock market once again will wait for confirmation from inflation data and the Fed. The latest inflation data came out in line with expectations which means no change to the Fed outlook. However, traders continue betting that the interest-rate cut will continue. As the market continues to stay optimistic post-election, traders will continue to assume that the bullish movement will continue. Whenever a bearish correction happens, traders could use it as a chance to add more long positions.

Technical Analysis

Dow Jones Industrial Average (INDU)

The DJIA index pushed lower yesterday but at the end of the day managed to close the day above the opening level. It seems the index will continue the bullish movement to target the Fibonacci extension level. Traders will continue to ride the current bullish movement in the stock market while waiting for a bearish pullback. When a bearish pullback happens, traders could use it as a chance to add more long positions at a lower level.

JD Com (JD)

JD share prices launched upward in September after China announced stimulus. After the bullish movement, the share prices slowly moved lower in a bearish correction. Currently, it is trading near the broken swing high level where we might see bullish reactions. Traders could use the area between the level and daily SMA 200 to accumulate long positions.