Stock futures mostly lower following the dip in Apple’s stock

Traders will brace for the bearish day following the weakness in Apple’s stock which experienced a downgrade by Barclays. It seems a bearish correction is due for the stock market after the rally which happens at the end of the year. Traders could use the moment to unload positions and enter at a lower level later. The next bullish leg might start again during the earnings season. Despite the growing bearish situation, it is better to avoid shorting the stock market as the long-term direction is bullish.

Technical Analysis

Dow Jones Industrial Average (INDU)

The bullish movement of the DJIA index has not shown any bearish sign yet. The index could continue moving upward and traders better avoid short positions for now. When the index starts a bearish correction, traders could wait near the horizontal support lines as shown on the chart. When there is bullish reactions, traders could enter long positions in stocks.

Las Vegas Sands (LVS)

LVS share prices broke above the daily SMA 200 and also printed a new higher swing high. There is a chance of bullish continuation toward the resistance around $52 – $54.00. Traders could use each bearish correction toward the daily SMA 200 as a chance to add long positions. After the next bullish move, as long as the share prices continue printing new higher highs and higher lows, the trend will continue bullish.