U.S stock futures buoyed by Amazon & Snapchat result

The U.S stock futures are significantly higher before today’s job data. The DJIA futures are currently higher by nearly 200 points and might continue to add more bullish pressure. However, the sentiment will depend on the job data result. Yesterday, major indices in the U.S made a major pullback after Facebook-parent result disappointment. The share prices were down 26.39%.

If there is bearish follow-through in the index today then traders will start expecting more bearish movement this month.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index trading between the averages and expected to continue sideway for now. Traders will wait for further reaction from the averages. If the index gets rejected and starts trading lower then it will enter a bearish trend. On the other hand, further bullish close above all the averages could trigger bullish continuation to target new record high.

Eli Lilly and Company Com (LLY)

LLY share prices bounced from the daily SMA 200 and currently trading between the SMA 100 & 200. The share prices need to maintain its position above the averages to avoid falling into a bearish trend. Traders will continue to use the SMA 200 as the place to enter long positions with a tight stop below it.