Stock futures extend bullish movement after strong bullish close

It seems the bullish trend has been confirmed in the stock market after the release of CPI data which is lower than expected. Traders and investors assuming that the Fed will not raise interest-rate again and might start lowering it next year. Under current situation, traders could wait for a bearish correction toward support level happen for chance to add more long positions.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index gapped up after the latest inflation data release. The situation seems to confirm that the Fed will not raise interest-rate again and might develop into a new bullish trend until the end of the year. Traders will now wait for a bearish correction for a chance to enter long positions in stocks.

Yum Brands Inc (YUM)

YUM share prices are in a bullish movement and soon will reach the daily SMA 200. Traders will monitor the share price reactions near the averages. If there are bearish reactions then traders could consider entering short positions. When the share prices manage to close above the averages then the trend will continue bullish.