U.S stock market higher as gold prices tumble

The bullish movement in the stock market happened as companies releases strong earnings. Coca-Cola & 3M are the main supported of today bullish move. Meanwhile, gold prices finally started a major bearish correction after rallying non-stop from $3,250 to $4,380 in less than 3 months. The price might cool-off before next week FOMC meeting, or we could see deeper bearish movement. Traders will continue to hold bullish view on the stock market for now.

Dow Jones Industrial Average (INDU)

DJIA index return to its record high and will continue the climb to next target. The 48,000 level could become the first target to watch, then 50,000 is on the line. No more bearish correction for now as the index near high and has more chance to extend the bullish trend. However, if bearish correction happen, then the orange trend line could become the target to watch. Anything below 45,000 might cancel the current bullish trend.

Avis Budget Group, Inc (CAR)

CAR share prices trade near the daily SMA 100 just one week before earnings release. If the company performs well then we could see another leg up, $256.00 is the bullish target to watch. However, if the company reported bad earnings & outlook, then we might see bearish movement toward the daily SMA 200.