Stock futures trading slightly upward ahead of the Fed FOMC meeting this week

The stock market situation is bullish right now as traders expect the Fed will stop raising interest-rate in this week’s meeting. Even though the Fed raise interest-rate once more, the market sentiment has changed as inflation numbers continue moving lower. As mentioned in the latest analysis, traders will continue waiting for the stock market to make a bearish correction to add more long positions as the new bull market might not be that far. In 1-2 years, traders might see the bullish positions come to fruition.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index is in a bullish trend now after the bullish continuation above the broken trendline. The index might turn lower before the Fed FOMC meeting this week to find a higher low. When the index forms a higher low then the next bullish leg will continue to target a new higher high. Traders will use each bearish correction as a chance to add more long positions.

Kohls Corporation (KSS)

KSS share prices are trading below the daily SMA 200 and might resume the bearish trend when the share prices get rejected. However, the bearish trend looks weakening too as the share prices printed higher low on the chart. If the share prices could continue the upward movement and close above the daily SMA 200 then there might be a chance for a bullish reversal.