U.S. stock futures flat ahead of job data

The stock market situation mostly sideways today as traders bracing for the release of U.S. job data. We could expect volatility in the stock market today, and it is better to wait until the data release. Slower growth in the job number might push the Fed to maintain the rate at a lower level. Meanwhile, rising number could dampen the current bullish sentiment and bring the stock market lower.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index recover after recent drop caused by tariff war. Moreover, the index is trading higher above previous week’s closing level. If the index could maintain the current bullish pressure, then it might be set to retest the record high. At the current time, traders will for the index reactions. Will the index breakout and continue the bullish movement to print a new record high? Alternatively, will we see another bearish correction to retest daily SMA 100 before the next trending movement?

KKR & Co. Inc (KKR)

KKR share prices are in a bullish channel and consistently moving upward. The share prices currently under bearish pressure and trading near the bottom of channel. Traders could make use the current situation as chance to add enter long positions. If bearish breakout happen then the share prices might pull back toward the daily SMA 200.