Stock building more bullish pressure as rate-cut hope rising

The stock market situation continues to be bullish this week before the Thanksgiving holiday. Traders are optimistic as we are nearing the end of November. The Fed will stop the QT in December, and a rate-cut is being favored once again. Traders who entered long positions in the latest market dip, could continue to hold the long positions for now.

Dow Jones Industrial Average (INDU)

DJIA index on the way higher, and it looks like will reclaim previous swing high. There is no major bearish reactions for now, and we are entering December soon. If there is no change to the situation then the index could continue higher to target 49,341 and 50,000. Traders who has long positions in stocks will continue to hold it for now.

Blackberry Limited (BB)

BB share prices is trading inside a triangle pattern and looks like it breaking below the pattern. However, it is not a strong breakout and the share prices stick near the daily SMA 200. If the share prices could bounce upward with strong momentum, then the consolidation inside the triangle pattern will continue. Traders who enter long positions will places stop order below $3.50.