Stock is sideways on the last day of September

The stock market situation is mostly stale on the last day of September. However, the stock market mostly scored gains this month after the Fed decided to cut interest rates. We might see a continuation of the bullish movement as the Fed will continue to cut interest rates. Under the current situation, traders could stay optimistic while observing the Presidential election. If the stock market takes a bearish turn then traders could use it as a chance to accumulate long positions.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index stabilizes near the top and currently might move sideways or start a bearish correction. No change to the bullish outlook and traders will continue to use each bearish correction as a chance to add long positions in stocks. On the lower side, the level around 41,500 and 41,000 is the nearest support level to watch. If the index continues moving lower then the daily SMA 200 and 40,000 are the next support levels to watch.

Sunrun, Inc (RUN)

RUN share prices have claimed the level above $20.00 and printed a higher swing high. At the current time, the share prices formed a triangle consolidation and will attempt to break out from it. Traders could use the bottom of the triangle to accumulate long positions, expecting a bullish breakout. However, if the share prices fall below the previous swing low then traders better scale out of long positions.