Stock futures are slightly higher after Tuesday’s bearish attempt

More bearish news comes as Moody’s downgrade U.S banks. The downgrade happens after last week’s downgrade by Fitch to the U.lS long-term debt. Despite the situation, the market manage to recover from the bearish pressure yesterday. Today, the stock market trading slightly upward and might erase all of the losses that happened yesterday. Traders will continue use each bearish movement in the stock market as chance to add more long positions.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index pushed lower but managed to recover toward the opening level. The index situation is bullish but we are waiting for a bearish correction. If the index starts a bearish correction then the 34,500 level will become the bearish target to watch. In the long term, the index is expected to continue the bullish trend.

Best Buy Co Inc (BBY)

BBY share prices back into the bullish trend above the daily SMA 200. At the current time, the share prices undergo a bearish correction and manage to reach the cluster of averages. If the share prices could bounce from the averages with strong bullish reactions then the bullish trend could continue. Traders could consider entering long positions when there are bullish reactions.