U.S stock market down on recession fear

U.S stock market took a major blow today with all major indices down 2-4%. The downward movement happened caused by high uncertainty of President Donald Trump’s tariff policy. Nevertheless, the current bearish correction is expected and traders will be prepared to enter long positions in stocks when the bearish pressure receded. At the current time, traders could use the time to hunt for battered stocks and positions for big discount level.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index fall and reach the daily SMA 200 with strong bearish momentum. The bearish movement completed the bearish correction. However, it is better to wait for bullish confirmation before jump in major positions. At the current time, traders could start adding long positions with small size and enter more positions when bullish reversal confirmed.

Fiserve, Inc (FI)

FI share price’s bearish correction has reached the daily SMA 100. It might bounce from the daily SMA 200 and resume the bullish trend. However, there is chance of bearish continuation toward the lower support levels too around $200.00 – $203.00. Trades could scale in long positions between $200.00 and daily SMA 100 for now.