Stock futures fall as inflation number stay at high level

The fear of inflation and further rate-hike put pressure on the stock market. Traders and investors seem to think that the Fed will continue to maintain the tight policies until there is a change to the situation in the next data. At the current time, DJIA futures are lower by more than 200 points. Traders might want to keep waiting until the bearish pressure receded for a chance to enter long positions at a lower level.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index has reached the daily SMA 200 and tested it. No close below the averages which means there is a chance of a bullish reversal. However, if the index closes the week below the averages then we might see further weakness in the coming week. A successful bounce from the level will bring the index up to retest the top trendline.

Papa Johns International (PZZA)

PZZA share prices have reclaimed the daily SMA 200 and returned to a bullish track. At the current time, the share prices make a bearish retest on the daily SMA 200 which provide a chance for traders to enter long positions. Traders could enter long positions with a stop below the previous swing low or when there are bullish reactions.