U.S stock futures slightly lower ahead of inflation report

The U.S. stock futures trade was slightly lower today before the release of inflation data. If inflation numbers continue to cool then the bullish movement of the stock market will continue. On the other hand, if the number stays at a high level then we might see a short-term bearish correction. Despite the situation, traders could use each bearish movement in the stock market as a chance to add more long positions.

Technical Analysis

Dow Jones Industrial Average (INDU)

The bullish movement of the DJIA index continued yesterday with a new higher high printed on the chart. It seems the index will continue its bullish movement as companies report earnings releases and we are nearing the Fed meeting. A bearish correction might happen in the index and it will be a chance for traders to enter more long positions. At the current time, it is better to stick with long positions and avoid shorting the pair.

Boeing Co Com (BA)

BA share prices have erased half of its previous rally gain. The share prices currently trading below the daily SMA 200 and look supported by a trendline. If the share prices could bounce up and breakout above the averages then the bullish trend could continue. On the other hand, if a bearish breakout happens and a new lower low is printed then the share prices will continue their bearish trend for now.