U.S. stock futures slightly higher

The stock futures this week looks slightly bullish before the opening bell. However, the situation could change drastically as President Trump is expected to announce a new tariff on steel and aluminum. If the stock market takes a downturn then traders will continue use it as chance to accumulate long positions at a lower level.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index closed lower on Friday, which might become a confirmation of new bearish leg. If the index continues the bearish movement, then it will target the daily SMA 200 to form a new higher low from it. At the current time, we could say a double top pattern is in play until a new higher swing high invalidate it.

Paypal Inc (PYPL)

PYPL share prices undergo bearish correction and now on the path lower to test the daily SMA 200. Traders will wait for reactions near the daily SMA 200. If the share prices could bounce upward with strong bullish momentum, then the bullish trend could continue. On the other hand, a major bearish movement below the averages might trigger bearish continuation.