U.S stock futures notch bullish movement as GDP data show better numbers

DJIA futures are currently up nearly 300 points following the better than expected U.S GDP report. U.S GDP comes out at a 2.6% increase compared to the 2.3% expectation. Traders and investors seem weighing on no recession after the news. Despite the situation, the market will focus on the Fed and the next inflation data to confirm whether the worse has been through.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index extends the bullish close and the index futures are currently up more than 200 points. It seems the index will continue the bullish movement to target the daily SMA 200. Traders will wait near the averages for bearish reactions to enter short positions in stocks. A close above the averages and the formation of a new higher high will cancel the bearish outlook.

Visa Inc (V)

V share prices trading upward with strong bullish momentum. It might break out above the daily SMA 200 and close above it. Despite the situation, we think there is chance to enter short positions. If the share prices stall and start to reverse the directions then traders could enter short positions.