U.S stock futures traded at a flat level after the CPI data release

The inflation number shows further easing which is good news as the Fed might stop its interest-rate hike policy. CPI data come out at 4.0% vs. 4.1% expectation. The stock futures initially trade upward but currently losing bullish pressure and are back near the opening level. Traders and investors will focus on the FOMC meeting this week which could alter the market direction depending on the result.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index extended the bullish movement above the trendline yesterday. The index situation is promising for further upward movement. However, if a major bearish reversal happens and the index close below the trendline again then the consolidation between the trendline and the daily SMA 200 will continue. On the upside, a new higher high might confirm the bullish continuation.

Wendy’s Company (WEN)

WEN share prices are currently in a bearish correction phase and trading near the cluster of averages. If the share prices could bounce from the cluster of averages and continue printing a new higher high and higher low then the bullish trend could continue. On the other hand, if the share prices continue moving lower and print a new lower low then the trend will turn bearish.