U.S. stock futures slightly lower

The stock market might open lower today but maintain the gain for the week. At the current time, inflation numbers has come out and hotter than expectation. Traders will expect the Fed to delay rate-cut and might approach with tightening if inflation grow out of control. Nevertheless, the stock market is in bullish trend which mean pullback in share prices is chance for traders to add more long positions.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index building more bullish pressure and is set to target a record high. The index could continue its bullish trend and attempt for new record high. However, if bearish reaction happen, then traders will expect a bearish correction toward daily SMA 100. When the index reaches the averages, traders will observe and consider entering long positions.

Caterpillar, Inc (CAT)

CAT share prices back under bearish pressure after latest swing high. No new higher swing high which mean a new lower swing low will turn the trend bearish for medium-long term. Traders could use the current level as a place to enter long positions targeting a new higher swing high with tight stop order below the previous swing low.