Stock futures maintain bullish pressure before the opening bell

Traders are convinced that the Fed will stop their interest-rate increase this year. One more rate hike is expected in September and the latest inflation numbers will confirm that the Fed will not raise interest rates further. On another ground, BOJ decides to change its policy and allow the long-term rate to rise beyond the 0.5% cap. It means the central bank might raise interest-rate to adjust against the Fed and other central bank rate hike. Nevertheless, traders will continue use each bearish movement in the stock market to enter more long positions in stocks.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index made a bearish close with a bearish engulfing pattern. It seems the awaited bearish correction will happen and traders will wait near the support level. The nearest support level is the horizontal line around 34,500 and the bullish trendline. When the index reaches support levels and form bullish reactions then traders will have confirmation to enter more long positions in stocks.

Visa Inc (V)

V share prices are in a bullish trend as the share prices trading above the daily SMA 200. Each bearish movement always receives bullish reactions near the cluster of averages and trendlines. At the current time, the share prices undergo bearish correction and traders could wait near the averages or trendline for a chance to enter long positions. As long as the share prices trading above the support levels and print new higher highs and higher low then the bullish trend will continue.