U.S stock futures are flat as the market observes the banking sectors development

Trouble in global banking sectors continues to shroud the market and this week it will come under focus. Traders and investors are awaiting the Fed FOMC meeting this week which could put the end to the high interest-rate policy. We might see the Fed pivot and help the banking sectors by lowering rates, providing liquidity, and doing other measures to boost the market.

Traders will continue waiting for the stocks to start another bearish leg for a chance to buy at a lower level.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index has printed a new lower low and also trading below the daily SMA 200. As the global market situation is bearish, it seems the index will continue the bearish movement to target the 30,500 – 31,250 areas. Traders will continue to maintain a bearish outlook until the index managed to form a support level and print a higher low.

Fox Corp (FOX)

FOX share prices undergo a bearish correction after the price returned above the daily SMA 200. At the current time,  the share prices are trading near the trendline and the daily SMA 200. If the share prices could bounce with strong bullish momentum then the bullish trend will continue. On the other hand, if the share prices continue moving lower then the level around $28.00 will become the target.