Stock futures are mostly flat ahead of the opening bell

Traders are investors are cooling down ahead of U.S job data which will be released on Friday. Current consensus sees a drop in the numbers which could push the Fed to fasten their rate-cut plan. If job data show weaker than expected numbers then we will see further increase in the stock market. Meanwhile, higher-than-expected numbers could lead the stock market to lower again until the next inflation data release.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index managed to form a higher low and currently trades above the daily SMA 100. It seems the index will continue the bullish movement to target a new higher high on the daily chart. As mentioned before, if the index falls and forms a new lower swing low, the trend will turn bearish with the daily SMA 200 as a target. This week’s job data release might trigger some volatility in the market but we expect the index could absorb any bearish pressure and continue the bullish movement.

Box Inc (BOX)

BOX share prices look in a bearish trend with lower high and lower low present on the daily chart. However, the recent trend might have turned bullish with the share prices printing higher low (blue trendline). If the share prices continue printing new higher lows and break above the orange trendline then the trend will turn bullish. Traders who plan to enter long positions near the daily SMA 200 will place stop orders below the latest higher low.