U.S stock futures flat as traders assess earnings results

Inflation data come out lower than expected this week which will put pressure on the Fed to stop rising interest-rate. However, the fear of a coming recession might take a grip on the market. Despite the situation, we could see U.S. stock indices continue rising as traders weighed further weakness in the U.S. dollar. If a bearish correction happens in the indices then traders will wait for near support levels for a chance to enter long positions at a lower level.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index has reached the top trendline with strong bullish pressure. The index will test the trendline and wait for reactions. If the index could close above the trendline then the bullish trend will continue. On the other hand, if a bearish rejection happens then we might see the continuation of consolidation between the daily SMA 200 and the trendline.

McCormick & Company (MKC)

MKC share prices have broken above the trendline and confirm a new bullish trend. The share prices might undergo a bearish correction toward the daily SMA 200 or the broken trendline where traders could consider entering long positions on bullish reactions. On the upside, a new higher high will become a strong confirmation of a bullish continuation.