The U.S. Stock Market is slightly higher

U.S. stock market futures trading slightly higher today after yesterday’s sell-off. The market seems to cool down after the Fed FOMC interest-rate decision. If the bearish movement continues then traders will wait at a lower level to add more long positions. When the Fed decides to lower interest-rate then it is time for the stock market to continue its rally. At the current time, traders and investors are betting for rate cuts as early as March. Under the current situation, traders will continue to observe the release of earnings results from companies to gauge growth and recovery.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index printed a bearish close yesterday which could become the confirmation of a bearish correction. The pattern occurred near the top trendline which means it has a high chance of continuing lower. However, the overall trend is bullish which means traders better await for the index to reach a support level for a chance to add long positions in stocks.

Automatic Data Processing Inc (ADP)

A bullish jump happens in the ADP shares after earnings results. It seems the upward movement also confirms a bullish bounce from the trendline. At the current time, traders will wait for a bearish pullback toward the level around $240.00 for a chance to add long positions. We think the share prices will continue its bullish trend and print a new higher high on the daily chart.