Stock futures continue directionless in August

Lower-than-expected inflation numbers could not become the catalyst for upward movement in the stock market. It seems traders are awaiting for the next month FOMC meeting which could become the last time where the Fed raise interest-rate. At the current time, the stock market might continue trading sideways and traders will continue awaiting for bearish reactions to enter more long positions.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index sideways movement continues near the top and there is no conclusion yet on the next movement. The index might continue trading lower to test the 34,500 level and traders will wait for further reactions for now. In the long term, we think the index will continue the bullish trend and print a new higher high.

The Trade Desk Inc Com (TTD)

TTD share prices turn lower after the $91.85 top. At the current time, the share price bearish correction will continue toward the daily SMA 100. Traders will wait until the bearish pressure receded for a chance to enter long positions. On the lower side, there is a horizontal support level around $65 – $66 where traders could wait for bullish reactions to enter long positions.