Stock slightly higher before the end of the week

DJIA futures are higher by 56 points at the current time, indicating a bullish opening. Traders and investors mostly focused on the Fed’s plan to accelerate rate-hike and reduce the balance sheet. Aside from the Fed, there is an attack on the Ukraine train station today which might signal more conflict between Ukraine and Russia.

With no clue yet on the next direction of the stock market, traders might want to prepare for another bearish attempt in the coming week or months.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index printed a bullish close yesterday after bearish movement below the daily SMA 50. It seems the index will attempt to stick near the SMA 50 & 200. The index needs to climb and print a higher swing high to cancel the current bearish scenario. If the index continues moving lower then the bearish trend is set to continue for the medium-long term.

Nvidia Corp Com (NVDA)

NVDA share prices stage a bullish rally to return above the daily SMA 200. It also printed a higher swing high which indicates a possible medium-long term trend reversal. At the current time, the share prices are under pressure near the daily SMA 200. If a bounce happens then traders could enter long positions. However, if a bearish breakout happens then further weakness toward the $210.00 level might happen.