U.S stock market turning lower

The stock market situation mostly bearish just before the release of FOMC minutes of meeting and Jerome Powell speech. Traders are anticipating that the Fed will not cut interest-rate and possibly further delaying as inflation numbers start moving upward again. The bearish pressure on the stock market might continue for now, and traders could use it as a chance to add long positions at a lower level.

Dow Jones Industrial Average (INDU)

DJIA index bullish attempt once again experience bearish rejection. We might see the bearish situation continue this week until Powell speech. Under current situation, traders will wait near the trend line for bullish reactions. When there are bullish reactions, traders could continue to add long positions. However, if the bearish pressure gaining more momentum, then there is chance of downward movement to target the daily SMA 200.

NuScale Power Corporation (SMR)

SMR share prices moving lower continuously since the $53.45 top. There is no sign of reversal yet as the price fall below the daily SMA 100. If there is no change to the situation, the price might continue lower to target the daily SMA 200, also the horizontal lines. When there are bullish reactions from both levels, traders could use it as a chance to start entering long positions.