Stock futures mostly flat ahead of the Fed FOMC meeting

The stock market might open flat this week as traders focus on the announcement of interest rates by the Fed. No more expectation of rate-hike but traders might want to prepare if a surprise happens. At the current time, it is better to wait for a pullback in the stock market for a chance to enter long positions at a lower level.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index has not shown any major bearish reactions near the top. The index continue trading sideways nearing the announcement of interest-rate by the Fed. If the index starts a bearish pullback then traders could wait until the bearish pressure subsides near the support level. Traders could add more long positions in stocks at a lower level when there is bullish reactions.

Darden Restaurants Inc (DRI)

DRI share prices managed to return above the daily SMA 200 and climb further upside. The share prices have returned to a bullish trend and a bearish correction is a chance for traders to add long positions. On the lower side, the daily SMA 200 will act as a support level where traders could add long positions when there are bullish reactions.