Stock futures are trading lower after yesterday’s bullish reversal

The stock market is slightly lower today after yesterday’s major bullish reversal. The stock market initially pushed lower but rallied after the Fed’s Jerome Powell said that inflation are easing. Although inflation continues to ease, the Fed expects more rate-hike this year. It means the Fed will reach target interest-rate soon and there might not be much room for more rate-hike.

If the stock market trade lower then it is chance for traders to enter at a lower level.

Technical Analysis

Dow Jones Industrial Average (INDU)

The situation of the DJIA index continues to be bullish near the top trendline. The index will attempt to build more bullish pressure and break out above the trendline. If the index could break out and close above the trendline then the bullish trend will continue. On the other hand, if the index gets rejected from the trendline and form a new lower low then the index could start a new bearish leg.

JD Com (JD)

JD share prices broke above the daily SMA 200 which means the trend has turned bullish. At the current time, the share prices make a retest on the trendline and might provide a chance for traders to enter long positions. When there are bullish reactions from the averages, traders could enter long positions.