Stock market futures mixed as traders weigh on the job data

The recent release of job data shows a major miss which become a concern for the market. Although the market expects downward numbers in job data because of the Fed’s policy. It seems the miss is larger than expected. Under the current situation, the market will expect inflation to slow but it could also mean a recession is looming as the job data show more weakness. Traders will monitor the development of the indices for now and await further confirmation for the next direction.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index direction continues to point to the upside and soon will test the top trendline. Traders will wait until the index reaches the level and show reactions. If the index makes a strong bearish reaction then the consolidation between the daily SMA 200 and the trendline will continue. On the other hand, if the index could climb and close above the trendline then there is a chance of upward continuation to print a new higher high.

SEA Limited Adr (SE)

SE share prices have broken its bearish trend and returned above the daily SMA 200. At the current time, the share prices trading lower and might retest the daily SMA 200. traders could use the chance to enter long positions when retests happen. As long as the share prices continue printing a new higher high and higher low then the trend will continue bullish.