U.S stock futures are little changed on Monday trading

Last week has been a strong week for the U.S. stock market with the major indices notches gain and reaching new record highs. The situation might continue to tilt to the bullish side and traders better avoid short positions in the stock market. If the stock market starts another bearish correction then it is a chance for traders to add more long positions.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index made another bullish close last week to secure a new record high. The bullish trend continues without any sign of weakness yet. No change to the bullish outlook, traders will wait until the index makes another bearish correction to add long positions. Under the current situation, traders with long positions will continue to hold the positions.

Dominion Energy Inc (D)

D share prices are undergoing a bearish correction and might reach the daily SMA 100 and the previous broken horizontal level. Traders will wait near the support levels for bullish reactions. When there are bullish reactions, traders could enter long positions targeting a new higher swing high. On the lower side, as long as the price stays above the daily SMA 200, there is no reason to turn bearish yet.