Stock futures rise before FOMC meeting

The stock market futures are trading upward before the Fed interest-rate decision. It seems the market has priced in a rate-cut in September while preparing for a surprise rate-cut today. If the Fed decides to cut interest-rate earlier then we will see major bullish movements in the stock market. However, traders will prepare for no rate-cut and possible sideways movement until the next FOMC meeting.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index maintains the bullish pressure and will aim to print a new record high. The index situation was bullish before the Fed FOMC meeting but could turn anytime. Currently, traders will continue to maintain a bullish outlook while preparing for a bearish correction to add more long positions. It is better to stay sidelined for today until the market reacts toward the Fed interest-rate announcement.

SentinelOne Inc (S)

S share prices printed a new higher swing high which could indicate a change of trend from bearish to bullish. At the current time, the share prices are undergoing a bearish correction and retesting the breakout point. If the share prices could move upward with strong bullish momentum then the bullish movement could continue. On the lower side, the daily SMA 200 & 100 will become the support level to watch.