U.S stock futures are under pressure as the market digests inflation numbers

Higher-than-expected inflation data dampen the bullish mood and brought the stock market lower. Despite the situation, it seems there is a chance that the market will shrug off the bearish sentiment and start pushing the stock market up again. In the end, inflation numbers continue to move lower compared to previous releases. If the downward trend continues in the next data release then the market might disregard the current sentiment.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index continues to stick near the top trendline without major bearish reactions. If the index could continue to maintain the positions until the end of the week then we might see major reactions soon. A breakout and close above the trendline will confirm the continuation of the bullish trend. On the other hand, if bearish rejection and correction happen then the dailoy SMA 50 & 200 will become the bearish target to watch.

Freeport Mcmoran (FCX)

FCX share prices look moving in a bullish trend and currently undergo a bearish correction. The bearish correction has reached the daily SMA 50 and horizontal support line. If the share prices could continue moving upward and then breakout above the line then the bullish trend is set to continue.