Stock futures under bearish pressure before inflation data

DJIA futures currently lower more than 100 points before the release of U.S. inflation data. We might see further bearish pressure when the data release show higher than expected numbers. Traders will monitor the release of data and the market reactions today. If the stock market trading lower then it is chance for traders to add more long positions near support levels.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA pushed lower yesterday but managed to close the day near the opening level. The index’s bullish situation has not changed yet which means it could continue the upward movement to print a new record high. Traders could continue to use each bearish correction in the index as a chance to enter more long positions at a lower level in stock.

Flour Corp (FLR)

FLR share prices traded lower toward the daily SMA 200 after the release of earnings results. The bearish movement closed below the bullish trendline which could mean the end of the bullish leg. At the current time, FLR share prices might find support at the daily SMA 200 and bounce from it. If a bullish bounce happens then it needs to break out above the daily SMA 100 to continue the bullish movement. If the share prices continue trading lower below the daily SMA 200 and print a new lower swing low then the bearish trend could continue.