U.S stock market started bearish correction

The major indices pullback 0.1% – 0.7% today from the top. It is a healthy bearish correction after a prolonged bullish run. Traders and investors watching closely the government shutdown situation. The longer the shutdown last, the higher the risk of deeper bearish correction. Nevertheless, the current bearish movement will provide traders with a chance to add more long positions at a lower level.

Dow Jones Industrial Average (INDU)

DJIA index drop with moderate bearish pressure and currently move near the trend line. If the index breakout lower below the trend line, then we might see downward movement to target 45,000 and the orange trend line. Overall, this is a healthy correction and chance for traders to add long positions. Traders will wait for bullish reactions for now before jump in positions.

Kroger Company (KR)

KR share prices corrected after tested the multiple highs. It is currently sat near the daily SMA 200 and no new lower swing low printed. As the long-term trend is bullish, traders could continue to add long positions near the daily SMA 200 with stop below the latest swing low or $64.15.