U.S stock futures mixed before the opening bell

Nasdaq Composite and S&P futures both trading upward while DJIA futures stay below the 0 levels. It seems the market will attempt to resume the current bullish movement as more companies report earnings. Today, ECB decide to raise interest-rate by 50 bps for the first time since 11 years ago.

At the current time, traders will avert their attention toward next week’s FOMC meeting. Will the market turn bearish once again after the announcement?

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index has reached the daily SMA 50 and currently building more bullish pressure. If the index continues moving upward then it will target the daily SMA 100 and the area around 32,500 – 33,300. Traders will observe the index reactions near the level. As long as the index stays below the level and does not print a new higher high then there is a chance of bearish reversal.

Fluor Corp Com (FLR)

FLR share prices trading upward from the daily SMA 200. The upward movement might target the daily SMA 50 & 100. At the current time, there is a chance to maintain the trend bullish. As long as the share prices could stay above the daily SMA 200 and not form a new lower low, traders could enter long positions.