U.S stock futures are mostly flat as traders wait for more earnings results

“Sell in May and go away” might will become the main concern after the current bullish leg. There is speculation that the Fed will raise interest-rate one more time in May. Traders might want to stay sideline for now and cover positions while waiting for bearish correction. When bearish correction happen, traders could wait near support levels for chance to enter more long positions.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index reached the trendline target and will keep testing it now. If the index gets rejected then traders will expect more consolidation between the daily SMA 200 and the trendline. On the other hand, if a bullish breakout and a new higher high are printed then the bullish trend could continue. On the lower side, the nearest support level is 33,500, and the daily SMA 100.

Kroger Co Com (KR)

KR share prices traded lower and reached the daily SMA 200. The share prices will wait for further reactions from the averages. If a bullish bounce happens then traders could expect the continuation of the new bullish trend. However, if a bearish breakout happens then the share prices will target the bottom trendline.