U.S stock futures dip after the Monday holiday

The stock market situation looks bearish to start this week’s trading. Traders are investors will focus on earnings results and the data releases to determine the market directions. Last week’s release of inflation data brought bearish sentiment but it did not last for long. The stock market made a recovery at the end of the week and erased all of the losses incurred after the release of inflation data. As mentioned before, each bearish movement in the stock market is a chance to add long positions as the market expects an interest-rate cut will happen this year.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index has erased losses that happened last week. However, the index futures look trading lower in Tuesday’s trading session. Despite the situation, the overall trend is bullish and the current bearish pressure might subside and the index will continue the upward movement. Nevertheless, when a bearish correction occurs, traders will use the chance to add more long positions near support levels.

Micron Technology Inc (MU)

MU share prices are in a pullback mode and reached the daily SMA 100. The share prices will attempt to bounce from the averages or continue downward to target the daily SMA 200. Traders will observe the reactions near the averages. When there are bullish reactions, traders could enter long positions targeting a new higher swing high.