Stock futures slightly lower after bullish close

The stock market futures were mostly bearish last week as treasury yield continued to rise. Yesterday, it managed to eke a bullish gain which could signal a temporary end to the bearish pressure. At the current time, traders will monitor the index reactions and continue accumulating long positions.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index bearish movement has not stopped yet below the daily SMA 200. The index might attempt to move lower and print a new lower low on the chart. However, if the index could turn bullish and trade back above the daily SMA 200 then the situation could turn bullish again.

Cisco Systems Inc (CSCO)

CSCO share price’s bullish trend is intact and it currently undergoing a bearish correction. The share prices might target the daily SMA 200 and also the trendline. Traders could prepare for long positions near both support levels when there are bullish reactions. At the current time, the share prices have bounced upward from the horizontal line and might experience bearish rejection after the gap closes.