Stock futures boosted before the opening bell, looking to extend the previous week’s bullish movement

DJIA futures are currently up more than 200 points which indicates a strong bullish opening. Traders are gearing for more upward in the stock market following a sharp gain last week. Despite the situation, the market attention will focus on the release of inflation data and the next interest-rate decision.

For the rest of October, we might close the month on a bullish note. But, November might become the start of a new bearish leg to target a new low.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index traded upward last week and closed inside the 30,500 – 31,250 area. The index now will test the area and decide on the next direction. A major bearish reversal from the area will confirm a bearish continuation to target a new lower low. On the other hand, a close above the daily SMA 50 will open a path toward the daily SMA 200.

Will Scott Mobile Mini Holding (WSC)

WSC share prices look bullish and currently trading inside a broadening top pattern. Traders could use the bottom of the range to enter long positions. At the current time, the stop level could be placed below the daily SMA 200. A close below the daily SMA 200 might become a bearish confirmation.