U.S stock maintain bullish outlook

The stock market stay near the high as S&P500 & Nasdaq climb to new record high. The only one which lag the market is DJIA. Traders seems shrugging th latest FOMC minutes of meeting which sees divided outlook by the Fed’s officials. Nevertheless, 1-2 rate-cut is still on the table for this year and it will be bullish for the stock market.

Dow Jones Industrial Average (INDU)

DJIA index continue the ranging movement as the range getting tighter. It seems the sideways situation will continue for now and traders better wait until the index breakout from range. If a significant bearish correction happen, then traders could wait near 45,000 or the orange trend line for bullish reactions. In the long-term, we still see the index continue the bullish trend.

Unity Software, Inc (U)

U share prices is trading between the two trend lines. It is currently undergone a bearish correction from the top trend line and soon will reach the daily SMA 100. The share prices also sit near the 61.8% Fibonacci Retracement level, where a bounce might happen. Traders could use the level between the daily SMA 200 and the Fibonacci Retracement level as a place to add long positions.