Stock futures slightly lower ahead of big tech earnings

The U.S. stock market looks will open lower in today’s trading sessions. Traders and investors are focusing on the release of earnings results from Microsoft and Alphabet. We have seen more companies beat analyst expectations and the trend could continue. At the current time, DJIA futures are lower than 81 points but might reverse after the release of earnings. Traders better await for a pullback in the stock market to enter more long positions at a lower level.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index extends the bullish movement by printing new higher highs on the daily chart. The bullish trend has not shown any sign of weakness yet and could continue further upside. Traders will continue to avoid short positions and wait for a bearish pullback to enter long positions at a lower level. At the lower level, 37,000 and 36,500 will become the levels to watch for bounce reactions when a bearish correction happens.

Suncor Energy Inc (SU)

SU share prices look consolidating inside a triangle pattern. The triangle range tightened and we might see a breakout soon. Traders could continue accumulating long positions inside the triangle range and near the daily SMA 200 for now. Traders could place a stop order below the previous swing low to anticipate a trend reversal.