U.S stock market mostly flat as earnings results in focus

The tension between Ukraine and Russia once again heated up as Russia shifted its military power to East Ukraine. The world is eyeing what will Russia do next. Meanwhile, traders and investors are focusing on the release of earnings results. The overall market direction seems will wait for the earnings result to determine how companies faring in the rising inflation environment.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index is mostly sideways between the daily SMA 50 & 200. There is no major breakout from both levels which means the market is in indecision. Traders will wait for the index to break out from the range to get confirmation on the next direction. We still think the index will breakout lower and continue the bearish trend.

Target Corp (TGT)

TGT share prices moving upward and surpassing the daily SMA 200. The share prices printed a higher high on the chart which indicates a possible long-term bullish reversal. Traders will monitor the share prices movement near the averages for now. If a major bearish rejection happens then we might see the start of a bearish attempt to target the level below $200.00.