Stock futures trading flat ahead of the release of the Fed FOMC minutes of the meeting

The stock market looks trading flat near the opening level after yesterday’s bearish close. The market situation might continue cautiously as traders await the release of FOMC minutes of the meeting. On the minutes of the meeting, further confirmation to increase the interest rate should put more bearish pressure on the stock market. On the other hand, if the meeting shows optimism on recovery and lower inflation numbers then the stock market could turn more bullish.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index printed a bearish close below the previous week’s swing low. The index might continue the bearish correction to test the 34,500 level and the daily SMA 200. Traders will use the bearish correction in the index as a chance to add more long positions at a lower level. Traders could expect the current bearish movement to continue until the next FOMC meeting.

Las Vegas Sands Corp (LVS)

LVS share prices are moving lower and reached a level near the daily SMA 200. The share prices situation might be bearish for now and will keep testing the support level. If the share prices could bounce with strong bullish momentum then we will expect a continuation of the bullish trend.