U.S stock market flat ahead of the Fed FOMC meeting

This week, traders and investors mostly will focus on the Fed interest-rate decision. The meeting also will provide future guidance on how the Fed reacts toward current rising inflation. U.S stock market might move in rangebound before the meeting and start a momentum movement after the result is published.

If the Fed starts to tighten the policies then we might see a temporary setback in the stock market.

Asian & European Stock market

The Asian stock market mixed. Japan Stock market up 213.07 points (+0.74%) to 29,161.80, China and Australia stock market closed. The European stock market mostly higher. DAX Germany up 0.14%, UK FTSE up 0.19%, and Euro STOXX600 up 0.12%

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index mostly bearish last week with the index slowly moving lower. However, there is no major bearish pressure seen on the daily chart yet. If the index continues moving lower then traders will observe the index reaction near the daily SMA 50. Meanwhile, the bullish trend has not broken yet and traders will wait for further bullish momentum for bullish continuation.

Under Armour (UA)

UA share prices forming a triangle formation and currently trading near the bottom of the triangle. If the share prices could maintain its close above the bottom of the triangle and bounce from it then traders could expect a test on the area near $20.00.

However, if a bearish breakout happens then UA share prices might start a bearish correction toward daily SMA 200.