Stock futures were slightly lower on the last day of January

DJIA futures are currently lower more than 100 points before the opening of the trading session. Traders and investors seem losing confidence and start to enter inflation-hedge assets. The situation is expected to continue this year until the inflation increase slowed. There is nothing much traders could do aside from waiting for more data and entering companies that have high intrinsic value compared to their current market value.

When rate-hike stopped and inflation stabilize, traders could expect strong companies to grow exponentially.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index breached below the daily SMA 200 and continues to stay below it. It is under further bearish risk following the fundamental situation switch to rate-hike sentiment. If the index stays below the daily SMA 200 longer then there is a higher chance of bearish continuation to print a new lower swing low.

Ebay Inc (EBAY)

EBAY share prices are in a bearish pullback situation and the share prices currently reached the weekly SMA 100. There is bearish room toward the weekly SMA 200 if the price continues the bearish movement. At the current time, traders will monitor the share prices reaction from the weekly SMA 100. If a bullish bounce happens then trades could enter long positions with weekly SMA 50 as an initial target.

Marvell Technology Inc (MRVL)

MRVL share prices corrected lower from the $93.85 high and reached the daily SMA 200 also the bullish trendline. If the share prices could maintain the position above both support levels then there is a chance of bounce and bullish continuation. Traders could enter long positions near the current level with tight stop below it.