U.S stock futures show a mixed signal

DJIA futures are currently up 70 points but both Nasdaq and S&P futures trade in negative areas. The bearish pressure happens because of miss in earnings results by Snap. Share prices were down a massive 28% after the earnings announcement. Despite the situation, the overall major indices might close the week on the bullish side.

Traders will prepare for next week’s FOMC meeting by securing positions and ready for the dump before the announcement.

Technical Analysis

Dow Jones Industrial Average (INDU)

The bullish correction in the DJIA index continues and the index might target the daily SMA 100 and the horizontal level around 32,750 – 33,000. Next week, there is an FOMC meeting which is expected to announce rate-hike. Traders will wait near the resistance levels for bearish reactions to confirm the continuation of the bearish trend.

Crowdstrike Holdings Inc (CRWD)

CRWD is moving upward inside a bullish channel. It might become a bearish flag where a breakout will resume the bearish trend. On the upside, there is the daily SMA 200 to watch. If the share prices get rejected with strong bearish reaction then traders will prepare for bearish breakout and continuation.