Stock futures steady ahead of inflation data

The release of inflation data and the Fed interest-rate decision is the main focus of this week. Traders will wait for the release of inflation data which might show further softening which could bring the stock market further upside. Despite the situation, traders better stay cautious as buying on rumors and selling on news might be in the play right now.

When the stock market starts a bearish pullback traders could use the chance to add long positions.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index continues its bullish movement and prints a new higher high again. There is no sign of weakness which means traders better stay sideline for now. Traders will wait for a bearish correction in the index for a chance to enter long positions in stocks at a lower level.

Palantir Tech Inc Com (PLTR)

PLTR share prices currently undergo a bearish leg and reached the daily SMA 100. The share prices also trading near the trendline. Traders will observe the share price reactions near the current level. If there are bullish reactions then traders could enter long positions near the current level.