Stock futures slightly lower to start the week

DJIA futures currently lower 80 points before the market open. Traders seems turning cautious ahead of the Fed interest-rate decision. The Fed might increase rate 1 more time or abandon its plan entirely as inflation numbers continue to move lower. However, judging from past experience Jerome Powell might repeat his mantra again as last year but this time keep saying the Fed need

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index hanging near the top and will attempt to extend the bullish movement. Despite the situation, we think a bearish correction might happen again nearing the Fed interest-rate decision. Traders will continue to maintain a bullish outlook on the index and wait for a pullback to enter more long positions in stocks. We think the daily SMA 200 will become the major support level when another bearish attempt happens.

Best Buy Co Inc (BBY)

BBY share prices return above the daily SMA 200 recently and make a retest toward it. At the current time, traders will assume the trend has turned bullish again and will wait for bullish reactions near the averages. When there is bullish reactions, traders could enter long positions. However, a close below the averages could cancel the bullish outlook and turn the trend bearish again.