U.S stock market extend bullish movement

Last week shock after Trump’s tariff announcement get bought this week and the market has returned to its initial level before the drop happen. Traders are assured that there will be no tariff this week and preparing for upcoming FOMC meeting. As the overall trend is bullish for long-term, traders will continue to use bullish view to plan trade while accounting possible major bearish pullback.

Dow Jones Industrial Average (INDU)

DJIA index continue the upward movement after bullish bounce. The upward movement erased all the losses which happened last Friday. If there is no change to the bullish situation, then the index could continue the bullish movement to target a new higher swing high. On the other hand, if another tariff drama hit the market, then the 45,000 level and the orange trend line could become the bearish target.

Baidu, Inc (BIDU)

BIDU share prices made a bearish correction from $150.00 handle and almost retraced 50% of the latest upward swing. Traders could wait until the share prices bottoming and form bullish reaction to enter long positions. Counting all nearest support, $100.00 – $120.00 could become the area to watch and add long positions. For now, the share prices continue to print new lower low which mean the bear still has control.