U.S stock futures were mostly flat at the end of the first quarter

The stock market seems will trade sideway today after a series of bullish closes this month. The global market situation might have returned to a neutral level and the next direction might be decided after the inflation data is released. At the current time, DJIA futures are lower by 33 points and might not show much movement.

Traders will monitor the closing level at the end of the trading day. No need to rush and jump into major positions as traders will continue to observe the inflation, war situation, and central banks’ reactions.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index crossed and close above the daily SMA 200 for two days. No higher swing high on the chart yet which means there is a possibility a bearish reversal could happen. Traders will observe the index reaction near the current level for now. A close below the daily SMA 200 with strong bearish momentum is a major bearish confirmation. On the other hand, if the index continues to maintain the close above the daily SMA 200 until the end of the week and forms a higher swing high then the bullish movement could continue.

Fox Corp Com (FOX)

FOX share prices seem to form a triangle pattern that has a bullish advantage. Traders will wait for the breakout of the triangle pattern to confirm the next direction. At the current time, traders could use the bottom of triangle or the daily SMA 200 as place to enter long positions assuming that bullish breakout will happen.