U.S stock market mostly higher

The stock market situation continue to be bullish, fuelled by AMD-OpenAI news which might give the company 10% stake in AMD. AI boom driving the market, and we might see it continue for years ahead. Current sentiment show no change in the bullish appetite. Traders are gearing toward the Fed FOMC meeting, which expected to cut another 25 – 50 bps. As we mentioned before, if there is bearish correction in the stock market, it will provide traders with a chance to enter long positions.

Dow Jones Industrial Average (INDU)

DJIA index reach new record high last week and started this week with slight bearish movement. Despite the bearish pressure, it seems the bull keep pushing the index higher as it recover before the closing bell. If a major bearish correction happen, then the index might move lower to target the orange trend line or 45,000 level. If there is no change to the situation, then the index could continue moving upward slowly.

Home Depot, Inc (HD)

HD share prices turn lower and reach the 38.2% Fibonacci Retracement level. It might continue the downward movement to test the daily SMA 200. Traders could wait for bullish reactions near the levels. If the share prices could stabilize near the levels, then traders could enter long positions expecting the bullish trend will continue. On the upside, $400.00 will become the first major level to watch.