U.S stock futures underwater as Russia attack Ukraine

Russia attacking Ukraine today and the global stock market is mostly lower. There is no sign of bull in the market and traders might want to continue to stay cautious for now. Only enter long positions in strongly backed fundamental stocks. Aside from the invasion situation, trades will observe today U.S GDP data to determine the future policies of the Fed.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index has printed a lower swing low and is expected to continue the bearish movement today as DJIA futures are lower by nearly 700 points. The current direction is bearish and traders will continue to avoid long positions in shares for now. If a bullish correction happens then traders will prepare for bearish rejection near the upper trendline.

Pfizer Inc (PFE)

PFE share prices constantly move lower after the $61.71 high. The share prices currently trading at the daily SMA 200. It might be a good chance for traders to enter long positions. However, the current bearish movement has strong momentum and traders might want to wait until a bullish reaction happens before entering long positions.

On the lower side, there is a bullish trendline to watch.