Stock futures were mostly higher before key inflation data

Traders and investors are looking forward to lower inflation numbers which showed bullish pressure before the inflation data release. If the inflation number continues to move lower then traders could expect more bullish pressure in the stock market. However, if inflation numbers start moving upward again then the current bullish pressure might reverse as the Fed might raise interest-rate again.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index is trading near the trendline resistances and has no clean breakout yet from the daily SMA 200 and trendline range. Traders will continue to monitor the index reactions inside the area for now. Without a breakout from the range, the index will continue the sideway movement. Despite the situation, we think a bullish breakout is imminent. Traders will use each bearish correction toward the daily SMA 200 as a chance to enter more long positions in stocks.

First Solar (FSLR)

FSLR share prices are in a bullish trend and always bounce from its averages. In the latest bullish attempt, the share prices printed a new higher high and started a bearish correction. At the current time, the share prices are trading near the daily SMA 100 where it might bounce and continue the bullish trend. If the share prices continue moving lower then the daily SMA 200 is the next support level to watch. As long as there is no lower low printed on the chart, the share prices could continue the bullish trend.