U.S stock futures are slightly lower after yesterday’s bearish move

The stock market situation continues to be bearish today after a major bearish drop yesterday. The downward movement was mostly incited by poor results by GOOG and TSLA which pulled technology and AI-related stocks lower. It seems the bearish movement could continue for a while until further earnings releases show improvement.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index is mostly lower and might continue the bearish movement toward the daily SMA 100 also the 38,000 handle. As the index currently undergoes bearish correction, it is better to wait until the index forms a major bullish reaction before turning bullish again. It is a chance for traders to continue adding long positions at a lower level.

Crocs Inc (CROX)

CROX share prices are trading lower and soon will reach the trendline and the daily SMA 200. Traders could wait near both support levels for bullish reactions. When there are bullish reactions, traders could enter long positions with a stop below the previous swing low. On the upside, if the bullish trend continues then traders will expect the share prices to target a new higher swing high.