Stock futures are slightly higher to kick off the week

The stock market seems will trade upward at the beginning of the busy week. Earnings releases might influence the situation of the stock market this week. Last week, major banks reported earnings results which showed stronger than expected results. It seems the current bearish sentiment might be overplayed and traders might expect slight bullish movement.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index halted its bullish movement near the daily SMA 200. The index situation has not changed yet from bearish to bullish. It needs to climb above the daily SMA 200 to confirm a bullish continuation. At the current time, traders will wait for further reactions from the averages.

Royal Caribbean (RCL)

RCL share prices are in a bullish trend and it always respects the trendline on the daily chart. The share prices are moving lower and soon will test the bottom trendline. If the share prices could bounce upward with strong bullish reactions then the bullish trend could continue. Traders could enter long positions near the current level with tight stop orders.