U.S stock rallying after rate-cut

The situation of the stock market is bullish after the Fed rate-cut. Moreover, the Fed also see two more rate-cut before the end of year. Under the current situation, traders will ride the rally and prepare for a bearish correction to add more long positions. Not much to do for now aside from waiting the weekly close to confirm whether the rally will continue or it will start a bearish correction.

Dow Jones Industrial Average (INDU)

DJIA index grinding upward near the trend line and continue printing new higher high. There is no change to the bullish situation after the FOMC meeting. If the index started a bearish correction, then traders will wait near support level for bullish reaction. As there are two more rate-cut planned, we expect the index to stay above 45,000 handle and rallying until the end the year.

Boeing Company (BA)

BA share prices is under bearish pressure and looks breaking lower below previous swing low. It is currently supported by the daily SMA 100, but a bearish continuation might happen. If the share prices continue the downward movement, then $195.00 – $200.00 and the daily SMA 200 will become the major support level to watch.